Indiana Power Bills to Drop by $100 a Year Under New I&M Plan
Fort Wayne – October 12, 2026 -- Indiana residential customers who use 1,000 kWh a month could save an estimated $100 per year under a new rate plan from Indiana Michigan Power (I&M), which also proposes freezing all rates on their monthly bill for three consecutive years.
A $59 million cut in 2027 bills
I&M describes the proposal as one of the nation's largest base rate reduction plans. It includes approximately $59 million in bill reductions in 2027.
The company says the plan is made possible by load growth and increased revenue from large customers, including data centers.
Two rate cuts have already landed this year
The proposal follows two reductions to rates for I&M's Indiana customers in the first six months of this year. The state of Indiana had called on utilities to make energy more affordable, and I&M says the plan answers that call.