Electricity rates — Indianapolis Power & Light Co
A household served by Indianapolis Power & Light Co using 1,000 kWh a month pays about $1,876.32 a year on the cheapest of 2 generally available plans — RS - Residential - 0 - 325 KWH per month from Indianapolis Power & Light Co, in effect since August 2025. Rates checked September 23, 2026.
Every priced plan, 1,000 kWh/mo
| Plan | Per year | vs cheapest | Effective |
|---|---|---|---|
| RS - Residential - 0 - 325 KWH per month✓ cheapesttiered · in effect since August 2025 | $1,876.32 | — | 15.6¢ |
| RS - Residential - over 325 KWH per monthtiered · in effect since August 2025 | $1,930.32 | +$54.00 | 16.1¢ |
Cost across usage levels
The cheapest plan at each consumption level, showing whether the ranking holds as usage changes.
- 500 kWh/mo — cheapest $1,047.96 (RS - Residential - 0 - 325 KWH per month), dearest $1,101.96, a $54.00 spread
- 1,000 kWh/mo — cheapest $1,876.32 (RS - Residential - 0 - 325 KWH per month), dearest $1,930.32, a $54.00 spread
- 2,000 kWh/mo — cheapest $3,533.16 (RS - Residential - 0 - 325 KWH per month), dearest $3,587.16, a $54.00 spread
What a typical bill costs
At 1,000 kWh a month the 2 generally available plans here run from $1,876.32 on RS - Residential - 0 - 325 KWH per month to $1,930.32 on RS - Residential - over 325 KWH per month, with a median of $1,903.32.
Effective rates, bill divided by kilowatt-hours, span 15.6¢ to 16.1¢ per kWh at that usage.
What Indianapolis Power & Light Co's customers were billed in 2024
At 896 kWh a month, Indianapolis Power & Light Co's median open plan comes to 16.1¢ per kWh, 17% above the 13.7¢ its customers were billed in 2024, riders included. Rates set since 2024 account for some of that.
| Ownership, as EIA classes it | Investor-owned |
|---|---|
| Full-service homes in Indiana | 469,499 |
| Share of Indiana's households | 15% |
| Average use per home | 896 kWh a month |
| Average bill per home | $123.20 a month |
| Billed per kWh, riders included | 13.7¢ |
| Median open plan here, at that use | 16.1¢ |
AES Indiana in U.S. Energy Information Administration, Form EIA-861, 2024 (Sales_Ult_Cust_2024.xlsx), retrieved September 23, 2026.
How it compares
Among the 109 utilities indexed, Indianapolis Power & Light Co's cheapest open plan is the 33rd-highest, 14% more than their median of $1,649.16. It sits between Northern States Power Co - Minnesota ($1,869.55) and DTE Electric ($1,908.21).
No other utility indexed in Indiana has a cheaper open plan; the other one starts higher.
RS - Residential - 0 - 325 KWH per month is tiered: past 500 kWh a month, each kWh costs 1.2¢ less. Of the 51 utilities whose plans step, that is the 17th-smallest step.
In the guides: The price that changes once the meter passes a line
How the answer changes with usage
RS - Residential - 0 - 325 KWH per month is cheapest at every level tested — $1,047.96 a year at 500 kWh a month, $3,533.16 at 2,000 kWh.
How these plans are structured
Of 2 priceable plans: 2 tiered.
Fixed monthly charges run from $12.50 to $17.00.
Who provides these plans
EIA-861 lists Indianapolis Power & Light Co serving homes in Indiana and in no other state, which is how its plans are placed there. 2 of its 2 published residential schedules can be priced.
The largest saving available here
Moving from RS - Residential - over 325 KWH per month to RS - Residential - 0 - 325 KWH per month saves $54.00 a year at 1,000 kWh a month, with no change in consumption.
New to these terms? The methodology page explains tiered bands, time-of-use periods and fixed charges, and sets out exactly what the rate engine assumes.
Estimate — your actual bill may differ.
Tariff structures from NREL/OpenEI Utility Rate Database (CC0 1.0), retrieved September 23, 2026.