FORT WAYNE, Ind. (WOWO): Indiana Michigan Power (I&M) is seeking a rate hike of nearly $10 per month per customer to pay for upgrades.
I&M’s “Powering the Next” plan was filed Thursday to the Indiana Utility Regulatory Commission. The proposal calls for a $104 million revenue increase, which is about 6.5 percent.
The impact on a typical residential customer that usues 1,000 kilowatt-hours of electricity per month will be just shy of $10 a month. That would increase a monthly bill from $158 to $167 per month, which equals out to nearly 33 cents per day.
Also, I&M is requesting raising the service charge to $20 per month from the current $15 per month for residential customers and the small commercials customer charge to $25 from $19.
I&M wants to replace 120 miles of overhead and underground power lines, replace more than 2,500 poles, upgrade 16 substations and inspect and maintain trees along 4,000 line miles as part of the plan.