I & M To Recover Revenue

Indiana Michigan Power has received approval from the Michigan Public Service Commission to set interim rates, as proposed by the Ft. Wayne, Ind.-based company in November.

As a result, I &M will begin to recover $16 million in annual revenue retroactive to Jan. 1, until a final order from the commission is received regarding the company’s rate case filed in July 2011.

I&M officials said adjusting rates until an order is received on its rate filing will help it continue to provide electric service to its 128,000 customers in Southwest Michigan.

Under the interim rate, the average residential customer will see an increase of about $6 per month.