INDIANAPOLIS (Inside INdiana Business) — Indianapolis Power & Light Company has received Indiana Utility Regulatory Commission approval to invest over $1 billion to modernize its electric grid over a seven-year-period. IPL revAMP will address aging equipment and hardware and will provide new technology and equipment.
Some of the new technology includes a self-healing electric grid, which will allow the company to pinpoint problems automatically and to re-route power where it’s needed. “Smart” AMI meters will let IPL crews know power is out and will estimate a time for restoration. The plan also calls for replacing transformers, breakers and batteries at substations across the city.
“We are pleased with the IURC’s Order because it allows us to modernize our electric system to continue meeting the rapidly changing needs of our customers throughout the Indianapolis area,” said Vince Parisi, president of U.S. Utilities for The AES Corporation and president and CEO of Indianapolis Power & Light Company. “Through our revAMP investments, IPL’s goal is to continue to deliver safe, reliable and affordable energy solutions to all customers.”
New customer rates are not yet known, but IPL plans to file a request for initial cost recovery by July 1. The progress of the project can be followed here.