Manufacturing News
July 20, 2026
July 20, 2026 · Statewide · Story 1 of 4
IURC Utility Rate Investigation Opens on ROE and Tracker Mechanisms
On July 15, the Indiana Utility Regulatory Commission released its energy affordability report and opened two formal investigations: one into the return on equity earned by all five Indiana investor-owned utilities, and a second into tracker mechanisms, the riders utilities use to raise rates outside standard rate cases. Both go to an August 7 public hearing.
The number worth your attention: Indiana Michigan Power holds an IURC-authorized ROE of 9.85%. Its actual earned ROE for the twelve months ending March 2026 was 12.6%, nearly a 3-percentage-point over-earning gap embedded in every industrial tariff it files.
Temper the expectation. Proceedings at this stage more often produce reporting requirements or methodology changes than direct rate cuts. Even a lowered authorized ROE only reaches your industrial tariff at the next rate case filing, and other tariff components can offset it. The realistic outcome is directional pressure on the next filing. The August 7 hearing is where the commission sets scope and methodology, which is what determines whether anything reaches your bill at all.
- For the huddle
Will the IURC utility rate investigation actually lower our industrial power rates?
Not directly and not soon. The most likely near-term outcome of the IURC utility rate investigation is reporting requirements or methodology changes, with any authorized ROE reduction only reaching your industrial tariff at the next rate case filing.
From the brief, July 20, 2026
- IURC Utility Rate Investigation Opens on ROE and Tracker Mechanisms
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- Fuel Tax Holiday Expires August 6 With No Renewal Path
- Honda Loads Greensburg With 210,000 Hybrid Units by May 2028
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