State regulators approve $70M increase for AES, less than utility originally sought

The Indiana Utility Regulatory Commission has approved a $71 million rate hike for AES Indiana, falling short of the $195 million initially requested by the utility. The 3-1 vote has sparked discontent among both state officials and consumer groups, who argue the increase doesn't align with the previously proposed settlement. This decision could have significant implications for both utility costs and consumer affordability in the state, highlighting the ongoing tension between regulatory oversight and utility profitability.