State regulators OK $71 million rate increase for AES Indiana

(INDIANA CAPITAL CHRONICLE) – The Indiana Utility Regulatory Commission voted 3-1 Wednesday to approve a $71 million electricity rate increase for AES Indiana customers.

That is about 37% of what the utility initially requested and lower than a settlement agreement proposed in October.

Neither Gov. Mike Braun nor consumer advocates are happy with the outcome.

“My top priority is affordability, which is why I am deeply disappointed by the IURC’s approval of another AES rate increase,” he said. “Hoosiers have spent years tightening their belts and making tough financial decisions. It’s time for utility companies to do the same.”

Members of the commission didn’t explain their votes Wednesday. IURC Chair Andy Zay focused his remarks on the process.

“There’s a lot of eyes on this order and what we’re doing today,” he said. “What is before you on the floor is a nearly a year’s worth of work, evidence, deliberations, and considerations that bring us to this moment in this decision. None of this was taken lightly. I want to thank my colleagues for the patience and working through this amongst the auspice of affordability, which is certa...