IPL Withdraws Rate Increase Request

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Indianapolis Power & Light Co. has withdrawn its request for a rate increase that would be used to cover construction costs for a new natural gas plant in Morgan County. The utility says the timeline for completion of the plant has changed, which led to the decision to withdraw.

IPL says its construction contractor, CB&I Stone & Webster, informed the utility that the project would not be complete by the previously announced date of April 30. As a result, IPL decided to withdraw the request "until a new construction timeline is confirmed."

IPL filed the rate increase request with the Indiana Utility Regulatory Commission in December. The plant, which will be located in Martinsville, was described at the time as "one of the cleanest, most efficient natural gas plants ever to be built in Indiana."

The utility says, if the rate increase is eventually approved, customers would see their monthly electric bills increase by about $10.