IMPA proposing average 5.25% decrease in wholesale rates for 2018

10/5/2017

CARMEL, IN – For a second consecutive year, 61 communities in Indiana and Ohio will see a decrease in their wholesale electric rates in 2018 if rates proposed by the Indiana Municipal Power Agency (IMPA) are approved by the Agency’s Board of Commissioners.

IMPA is proposing an average 5.25% decrease in its wholesale rates for 2018, which is the largest wholesale rate decrease in the Agency’s history.  IMPA’s wholesale rates are based on the Agency’s operating costs, which are derived from its diverse generation and transmission ownership, purchased power, debt service and administrative and general expenses.  This decrease is the result of IMPA’s investments in generation and transmission projects over the last two decades.  All of the Agency’s newer units, including new solar projects, are contributing to lower, sustained costs for 2018 and beyond.  

The proposed rate decrease comes on the heels of an average 1% decrease in IMPA’s wholesale rates in 2017.   IMPA plans its rates for the upcoming year in an annual rate study, which is submitted to the Agency’s governing Board of Commissioners for review and approval.  The IMPA Board of Commissioners is comprised of a representative from each of the Agency’s 61 member communities.  IMPA’s Board of Commissioners plans to vote on the 2018 rates at its October board meeting.  Upon approval, the new rates will take effect January 1, 2018.
 
The Indiana Municipal Power Agency is the not-for-profit wholesale power provider to 61 cities and towns across Indiana and Ohio who own and operate the municipal electric distribution systems in their communities. IMPA member communities deliver electric service to approximately 330,000 individuals throughout the state.  For more information, visit www.IMPA.com.