Indiana Michigan Power recently announced plans for its third rate hike in 25 years. WBOI’s Ben Clemmer reports it’s part of I&M’s Building the Future proposal, which seeks to raise $263 million.
The proposed rate increase would cost consumers about $25 a month. I&M spokesperson Tracey Warner says the money would go towards infrastructure updates that are overdue.
“The energy grid is aging and I&M for example we have about 350,000 poles and about fifteen percent of those are 60 years or older.”