I&M Rate Filing: Industrial Customers Are Explicitly Excluded

Indiana Michigan Power filed a base rate reduction plan with the IURC on August 26: a 5 percent residential rate cut, a three-year freeze, and roughly $59 million in projected annual savings for residential customers.

The filing explicitly states that the rate reduction does not apply to large-load industrial customers. The load growth from Google's Fort Wayne data center campus, AWS in New Carlisle, and Microsoft in LaPorte is funding the residential relief, and those same industrial-class customers are excluded from receiving it.

The IURC review runs approximately 300 days, putting a June 2027 decision on the calendar. A parallel case is already active: the OUCC is recommending that I&M's prior $263 million revenue-increase request be capped at $125.2 million. If the commission allows more of that revenue increase through while simultaneously approving the rate cut, the net benefit to the territory is smaller than the $59 million headline implies.

The IURC is operating under sustained affordability pressure from the Braun administration following recent rate controversies, that is the environment this filing lands in, and it shapes how the commission will weigh competing interests across both cases. Know your rate classification under I&M's tariff schedule before June 2027 and track that parallel case.