(FORT WAYNE) - Indiana Michigan Power says customers will see lower electric bills beginning in June.
According to the utility, a typical residential customer using 1,000 kilowatt-hours of electricity per month will see a bill decrease of about 3.6 percent, or roughly $6, on their June bill.
I&M said the reduction is partly the result of approval from the Indiana Utility Regulatory Commission to lower charges associated with how the company manages and sells energy in the regional power market.
The reduction will appear on customer bills under the "Off System Sales Margin Sharing/PJM Cost Rider," or OSS/PJM Cost Rider.
The company said the decrease is also tied to additional revenue it expects to receive from selling excess power during 2026. That revenue is being passed along to customers through lower rates.
The bill reduction follows I&M's February announcement that it plans to file a Customer Benefits Plan aimed at reducing base rates.
"Our customers expect us to look for every opportunity to make energy costs more reasonable while still delivering reliable power, and that's what this reduced rate reflects," said Katie Runkle, I&M's vice president of external affairs and customer experience. "We will keep working to make sure customers see those benefits through lower costs on their bills whenever possible."
I&M has also launched a Bill Support Center webpage that provides additional information about the various charges and line items that appear on residential electric bills.