The Indiana Office of Utility Consumer Counselor is recommending approving less than half of Indiana Michigan Power's requested rate increase.
I&M had requested more than $263 million in new annual operating revenues, a statement from the OUCC said.
The OUCC filed testimony late Tuesday recommending the increase be limited to approximately $125 million, which would reduce I&M's return on equity to 8.65 percent.
I&M's current authorized return equity is 10.2 percent, it said, with the requested rate increase making it 10.6 percent.
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