Indianapolis Power & Light, a subsidiary of AES Corporation and an energy provider to 500,000 consumers, has submitted plans to the Indiana Utility Regulatory Commission to modernise its grid network.
If approved by the IURC, full implementation of the plan, called IPL revAMP, will begin in 2020 and conclude in 2027, with a total investment of $1.2 billion. If approved, this investment will support an estimated 880 jobs annually in Marion County worth $62.2 million in compensation per year.
The aim is to replace ageing equipment, hardware and other assets with new technologies to enhance customer services and grid efficiency and resilience.
The energy provider plans to invest in:
- A self-healing electric grid which isolates problems automatically and re-route power around the problem, reducing the duration of service interruptions to many customers
- Smart AMI meters to improve consumer energy efficiency
- Replacing transformers, breakers, batteries and other ageing equipment at substations to meet local area energy demands
- A foundation that allows further integration of electric vehicle charging infrastructure and distributed energy resources
“Our customers deserve reliable, seamless and efficient energy services, and IPL is committed to meeting customer energy needs now, and in the future,” said Vincent Parisi, President of US Utilities for AES Corporation and President and CEO of Indianapolis Power & Light Company. “To continue meeting customer energy needs for generations to come, it is critical that we upgrade, replace and modernize the infrastructure, technology and equipment used to provide electric service.”
If approved by the IURC, this project will not result in an increase in IPL’s total retail revenues of more than 2% in any year of the project.