IMPA: 1.1 percent decrease in wholesale electric rates
For a third consecutive year, the Indiana Municipal Power Agency said there will be a decrease in wholesale electric rates for its 61 member communities in Indiana and Ohio. The average 1.1 percent decrease in wholesale electric rates to IMPA members will take effect Jan. 1.
“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,” said Raj Rao, IMPA President and CEO.
The proposed rate decrease comes on the heels of an average 5.25 percent decrease in 2018 as well as a 1 percent 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.