IURC Opens Dual Investigations Into ROE and Indiana Utility Tracker Charges

Chairman Anthony Swinger and Commissioner Bob Deig announced two investigations: one into return on equity, the profit portion of your rate, and one into tracker charges, the components that stack on top of base rates between rate cases with limited review. Trackers include TDSIC, fuel adjustment charges, RTO adjustment charges, and environmental compliance recovery, and they apply across all five Indiana investor-owned utilities. The OUCC has already publicly pushed for a 9.1% ROE against the 9.5% the commission approved for AES Indiana in a contested 3-1 vote. Swinger is targeting year-end completion on both, ahead of the 2027 legislative session. For an operator, this is the rare moment when the reset-heavy part of your bill is actually under a microscope.