IPL Receives Approval to Invest in Energy Grid

Indianapolis Power & Light Company (IPL), an AES Company, received approval from the Indiana Utility Regulatory Commission (IURC) to invest $1.2 billion to modernize its electric grid over a seven-year-period to meet customers’ rapidly changing energy needs.

The Transmission, Distribution, and Storage System Improvements Charge (TDSIC) filing, or “IPL revAMP,” addresses the upgrade and replacement of aging equipment, hardware and other assets. In addition, the investment will provide new technology, equipment and systems, which include:

• A self-healing electric grid, allowing IPL to isolate problems automatically and re-route power around the problem, reducing the customer impact and duration of service interruptions
• “Smart” AMI meters and other corresponding technology that automatically let IPL know when the power is out, as well as inform estimated time of restoration during outages
• Replacing transformers, breakers, batteries and other aging equipment at substations to meet local energy demands

“We are pleased with the IURC’s Order because it allows us to modernize our electric system to continue meeting the rapidly changing needs of our customers throughout the Indianapolis area,” said Vince Parisi, President of U.S. Utilities for The AES Corporation and President and CEO of Indianapolis Power & Light Company. “Through our revAMP investments, IPL’s goal is to continue to deliver safe, reliable and affordable energy solutions to all customers.”

The Order does not approve new customer rates. IPL plans to file its initial cost recovery request by July 1, 2020. Furthermore, IPL anticipates its transformative grid investment will support an estimated 880 jobs annually in Marion County. As a result, IPL customers should expect to see crews and contractors working throughout the service territory to replace equipment. Customers can view project progress, as well as impacts to their neighborhoods online at IPLpower.com/revAMP.