Decrease in Electric Rates for the Town of New Carlisle
On June 1, 2017, American Electric Power (“AEP”) as an agent for the Indiana Michigan Power Company changed its rates to its members.
It is estimated that these changes will decrease costs to the Town of New Carlisle Electric Utility over the next 12 months.
The Town of New Carlisle will file a decrease in its schedule of rates for electricity sold to reflect the decrease in the cost of power purchased from Indiana Michigan Electric Power Company.
This does not represent a decrease to the Town’s electric rates, but rather a pass-through of the decrease in Indiana Michigan Power Company rates.
The decrease of approximately 16.054 mills ($0.016054) per kilowatt hour will be applied to all bills of the next practical consumption period following the date of such approval or the next practical consumption period following the effective date of change in the cost of purchased firm power, whichever is later.
This amounts to a $16.05 decrease for every 1,000 kilowatt hours consumed.
Assuming a typical or average residential monthly bill is approximately 700 kilowatt hours consumed, this decrease will amount to approximately $11.24 per month.
This decrease, stated as a percent of the total monthly bill, will vary from individual to individual depending on what retail rate the consumer is served by.