Indiana power provider proposes $59 million rate cut for state, says data centers and other large customers are driving increased revenue — move could potentially save residential users $100 annually

Electricity transmission towers.

Indiana Michigan Power, or I&M, which serves over half a million residential customers across the two states, said that it’s planning to cut rates for residential customers in Indiana. According to the company, it’s planning “one of the nation’s largest base rate reduction plans,” with the total bill reduction saving Hoosiers approximately $59 million in electric bills by 2027. This translates to about $100 per year for each home that uses around 1,000 kWh monthly. Aside from that, I&M wants to freeze rates for the next three years, offering its customers a measure of stability as data centers are forecasted to use 20% of U.S. power by 2035.

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