Indiana – AES requested a reduction in energy costs from the Indiana Energy Regulatory Commission in March due to declining fuel prices.
The proposal was granted by state authorities, which will result in a 16.5%, or $23.09, reduction in the average residential customer’s monthly power bill, AES reported on Friday.
The new rate went into effect with the meter readings on May 31 and will appear on invoices for June, July, and August.
This year, AES Indiana has already submitted its second straight rate reduction to state regulators.
The Fuel Adjustment Charge will alter if a decrease or increase is allowed. That is the sum that AES and other utilities add to bills based on fuel and power purchases.
Higher fuel costs make it more expensive for AES to produce the power it sells, which typically results in a request to raise pricing. Lower fuel costs result in lower expenses, which eventually translate into lower rates for clients.
Residential customers who require assistance with their electricity bill payments can get it from AES.
