Updated: March 2026
Commercial rate guide for I&M — Northern and eastern Indiana (Fort Wayne, Muncie) and southwestern Michigan. Subsidiary of American Electric Power (AEP) serving approximately 600,000 customers.
General service rate with demand charges for commercial accounts. Large power rate with time-of-day pricing option. Includes fuel cost adjustment and reliability rider applied monthly.
Rising
6.5% base rate increase effective January 2026, approved by both Indiana URC and
6.5% base rate increase effective January 2026, approved by both Indiana URC and Michigan PSC
Property managers with I&M accounts frequently encounter these billing challenges:
Different rate structures between Indiana and Michigan service areas
Fuel cost adjustment creating month-to-month volatility
Nuclear decommissioning charges on commercial accounts
Reliability rider charges increasing annually
The utility is the sole provider in this service territory.
Both Indiana and Michigan are regulated for electric supply generation. I&M operates as a vertically integrated AEP subsidiary in both states.
Clean energy transition rider pending before Michigan PSC for coal-to-renewable conversion cost recovery
Automate bill processing, catch billing errors, and track rate changes for all your I&M accounts in one platform.
Request a Demo →