CARMEL, IN – For a third consecutive year, the Indiana Municipal Power Agency (IMPA) has announced a decrease in wholesale electric rates for its 61 member communities in Indiana and Ohio. The average 1.1% decrease in wholesale electric rates to IMPA members will take effect January 1, 2019.
“IMPA is fortunate to be able to pass on a wholesale rate decrease to our members for the third time in as many years,” commented Raj Rao, IMPA President and CEO. “As prices continue to rise for other utilities, our dedication to providing a low-cost, reliable power supply to our member municipal electric communities continues to shine through. IMPA’s ownership in generation assets, combined with a reduction in regulatory requirements at the federal level and the outstanding performance of IMPA staff, has enabled us to pass on this decrease to our members.”
The proposed rate decrease comes on the heels of an average 5.25% decrease in 2018 as well as a 1% decrease in IMPA’s wholesale rates in 2017.
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, and a reduced regulatory burden have contributed to lower, sustained costs for 2019 and beyond.
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.
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