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Indiana Michigan Power Company Alternative Regulatory Plan Approval

The Indiana Utility Regulatory Commission issued an interim order on April 22, 2026, approving Indiana Michigan Power Company's Alternative Regulatory Plan establishing a new methodology for allocating the costs of Current Generation Resources between Indiana and Michigan retail jurisdictions. The plan sets retail jurisdictional allocation factors using Primary Allocation Factors from I&M's most recent Indiana and Michigan base rate cases (Cause No. 45933 and Case No. U-21461), subject to future adjustment only when I&M's wholesale demand and energy percentages change. The order affects I&M's approximately 484,000 retail customers in Indiana and 134,000 retail customers in Michigan. The Commission noted that because I&M has filed a parallel case in Michigan, the two state commissions' decisions must be consistent.