Indiana Michigan Power (I&M)
On December 27, 2023, the Indiana Utility Regulatory Commission (IURC) approved I&M's Electric Vehicle Fast Charging (EVFC) tariff and an EVFC rate. The order sets an EVFC rate for customers that utilize Company owned EV fast-chargers that are available for public use. The tariff rate is calculated using a regional average of EVFC rates offered by individual fast charge stations in I&M's service territory that charge a consumption-based or time-based fee. I&M's Original Sheet No. 20 Tariff EVFC is effective for customer bills rendered with the 1st billing cycle in February 2024 (January 31, 2024).
The revised tariff sheets are attached and are also available at: Indiana (indianamichiganpower.com)
On December 21, 2023, I&M and organizations representing I&M customers have reached agreement on details of the Powering Our Future plan that will further enhance reliability and better serve customers while significantly reducing the initial proposed rates. The settlement with the Indiana Office of Utility Consumer Counselor (OUCC) and other organizations and municipalities is pending before the Indiana Utility Regulatory Commission (IURC). Under the settlement, I&M's overall rate request of $116.4 million was reduced to $56.9 million plus $4.9 million in rider revenues, totaling $61.8 million. For more information, please visit: I&M Reaches Settlement Agreement on Powering Our Future Plan (indianamichiganpower.com)
The I&M-Indiana Tariff Book has been updated as of 1/2/2024, to include recently approved items by the Indiana Utility Regulatory Commission (IURC) and are effective for customer bills with the 1st billing cycle in January 2024.
- Demand-Side Management / Energy Efficiency Program Cost Rider, Fourth Revised Sheet No. 45
- On December 20, 2023, the IURC approved I&M's updated DSM/EE Plan and an adjustment to its DSM/EE rider factors. The DSM/EE surcharge allows the Company to recover costs of energy efficiency programs as approved by the Commission.
- Environmental Cost Rider (ECR), Third Revised Sheet No. 47
- On September 27, 2023, the IURC approved revised Environmental Cost Rider (ECR) factors. Third Revised Tariff Sheet No. 47 (Environmental Cost Rider) has been revised to reflect the approved factors.
- Off System Sales Margin Sharing / PJM Cost Rider, Fourth Revised Sheet No. 48
- On December 27, 2023 the IURC approved I&M's updated OSS/PJM Cost Rider factors.
The I&M-Michigan Tariff Book has been updated as of 1/2/2024, to include the following items:
- Power Supply Cost Recovery Factor (PSCR)
- I&M's Michigan Tariff Book has been updated to reflect a 2024 proposed PSCR Plan case factor of 11.44 mills per kWh applicable to customer's bills to be effective during the billing months of January through December 2024, unless later modified by the MPSC.
- This factor represents an increase of 6.36 mills per kWh, compared to 5.08 mills per kWh factor currently in effect. The modified tariff sheet, D‐116.00 can be found in the rates link below.
- Energy Waste Reduction (EWR) Surcharge Rider:
- On September 28, 2023, the MPSC approved Indiana Michigan Power Company's EWR reconciliation and approved revised EWR surcharge rates effective for bills rendered during the billing month of January 2024 (January 2, 2024).
The Fuel Cost Adjustment Rider was revised to reflect the November 2023 through April 2024 fuel adjustment clause factor of ($0.000185)/kWh under the IURC's Order issued on October 25, 2023, in Cause No. 38702-FAC 91. This factor is effective with the first billing cycle in November (October 27, 2023).