Indiana Michigan Power (I&M) announced that it has filed a new rate plan with the Indiana Utility Regulatory Commission that could lower electricity costs for residential customers in Indiana.

If the plan is approved, I&M estimates that an average household using 1,000 kilowatt-hours (kWh) of electricity per month would save approximately $100 per year. The company is also proposing to freeze residential rates for three years beginning in summer 2027, providing additional rate stability for customers.

According to I&M, the proposed reduction is possible because of customer growth and increased revenue from large customers, including data centers.

The proposal must be reviewed and approved by the Indiana Utility Regulatory Commission before the changes can take effect. Residents should note that the estimated savings and proposed rate freeze are not yet final.

The City of Union City will share additional information with residents as details about the proposed rate plan and regulatory review become available.