AES · 10-Q · 2026Q3 · Full report

AES Indiana Rate Case

AES CORP · 2026-11-03 · Importance 40 · Surprise 42 · In source text

On June 17, 2026, the Indiana Utility Regulatory Commission (IURC) approved in part a settlement establishing proposed 2027 electric-service base rates with a 9.5% return on equity. The order includes a commitment not to implement additional base-rate increases until at least January 2030 and not to start a second TDSIC Plan before January 2028. After customer groups sought reconsideration and rehearing, the IURC reopened a limited record concerning the Google Monrovia data-center project and pending AES merger; an evidentiary hearing is set for March 11, 2027, and rates implemented in phases are subject to refund.

Key facts

• The AES Indiana 2026 Base Rate Order establishes proposed 2027 electric service base rates with a 9.5% return on equity and commitments against further base-rate increases until at least January 2030 and a second TDSIC Plan before January 2028. source
• The IURC granted rehearing of the AES Indiana rate order on September 2, 2026, and set an evidentiary hearing to begin March 11, 2027; the new rates remain subject to refund pending regulatory petitions and appeals. source
• AES Indiana's first phase of new basic rates and charges became effective July 27, 2026, and phase two is anticipated in the first quarter of 2027; the rates are subject to refund pending regulatory and legal proceedings. source

Impact estimates