Ind. Code ch. 8-1-46

in effect

Ind. Code § 8-1-46-1 "Average monthly residential bill"

Sec. 1. (a) As used in this chapter, "average monthly residential bill", with respect to an electricity supplier, means the average total monthly charges billed, over the course of a calendar year, to all customers receiving retail electric service under the electricity supplier's standard residential tariff. (b) The term includes the following charges: (1) Fixed service charges. (2) Energy charges based on the amount of electricity provided to or consumed by the customer during the billing cycle. (3) Additional charges or credits, including any applicable rate adjustment mechanisms approved by the commission. (4) Taxes. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-2 "Commission"

Sec. 2. As used in this chapter, "commission" refers to the Indiana utility regulatory commission created by IC 8-1-1-2. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-3 "Customer"

Sec. 3. (a) As used this chapter, "customer", with respect to an electricity supplier, means a metered electrical service point: (1) that is located at a specific location in Indiana; and (2) for which an active billing account is established by the electricity supplier. (b) As the context requires, the term includes the person of record who has agreed to pay for the retail electric service provided by the electricity supplier at the location described in subsection (a). As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-4 "Customer affordability performance metric"

Sec. 4. As used in this chapter, "customer affordability performance metric", with respect to an electricity supplier, means a metric that: (1) is determined by the commission under section 23 of this chapter for a particular rate year included in that electricity supplier's multi-year rate plan; (2) is based on the most recent customer affordability performance report submitted to the commission by the electricity supplier under section 18 of this chapter; and (3) is used by the commission to establish a customer affordability PIM that applies to that rate year and provides financial rewards or penalties to the electricity supplier based on the electricity supplier's measured customer affordability performance. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-5 "Customer average interruption duration index"

Sec. 5. As used in this chapter, "customer average interruption duration index", or "CAIDI", means an index that: (1) indicates the average time required to restore electric service to an electricity supplier's customers affected by sustained service interruptions; and (2) is calculated by determining the quotient of: (A) the sum of sustained service interruption durations in minutes for a specified period; divided by (B) the total number of customers affected by the sustained service interruptions; in accordance with IEEE 1366. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-6 "Electricity supplier"

Sec. 6. (a) As used in this chapter, "electricity supplier" means a public utility (as defined in IC 8-1-2-1(a)) that: (1) furnishes retail electric service to customers in Indiana; and (2) is under the jurisdiction of the commission for the approval of rates and charges. (b) The term does not include: (1) a municipally owned utility (as defined in IC 8-1-2-1(h)); (2) a corporation organized under IC 8-1-13; or (3) a corporation organized under IC 23-17 that is an electric cooperative and that has at least one (1) member that is a corporation organized under IC 8-1-13. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-7 "IEEE 1366"

Sec. 7. As used in this chapter, "IEEE 1366" refers to: (1) the 2022 edition of IEEE 1366, IEEE Guide for Electric Power Distribution Reliability Indices, as adopted by the Institute of Electrical and Electronics Engineers; or (2) if the commission adopts a rule under IC 4-22-2 to amend: (A) the 2022 edition; or (B) any subsequent edition; of IEEE 1366, the version of IEEE 1366 as amended by the commission. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-8 "Major event day"

Sec. 8. As used in this chapter, "major event day", or "MED", means a day with respect to which an electricity supplier's daily system SAIDI exceeds a statistical threshold value that is: (1) calculated using the 2.5 Beta methodology developed by the Institute of Electrical and Electronics Engineers; and (2) based on the most recent five (5) years of relevant data for the electricity supplier; as defined in IEEE 1366. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-9 "Multi-year rate plan"

Sec. 9. As used in this chapter, "multi-year rate plan" means a ratemaking mechanism under which the commission sets an electricity supplier's base rates for a three (3) year period that includes: (1) authorized periodic changes in the electricity supplier's base rates; and (2) adjustments to the electricity supplier's base rates based on the electricity supplier's performance with respect to each performance incentive mechanism applicable to the electricity supplier; during the three (3) year period, without requiring the electricity supplier to file a new base rate case with respect to the changes and adjustments. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-10 "Performance based ratemaking"

Sec. 10. As used in this chapter, "performance based ratemaking" means an alternative ratemaking approach for electricity suppliers that includes one (1) or more performance incentive mechanisms in the context of a multi-year rate plan. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-11 "Performance incentive mechanism"

Sec. 11. As used in this chapter, "performance incentive mechanism", or "PIM", means a ratemaking mechanism that is approved by the commission and that: (1) links an electricity supplier's earnings to the electricity supplier's performance in targeted areas that are consistent with the provision of electric utility service with the attributes set forth in IC 8-1-2-0.6, including: (A) reliability; (B) affordability; (C) resiliency; (D) stability; and (E) environmental sustainability; as described in IC 8-1-2-0.6; and (2) is based on specific performance metrics against which the electricity supplier's performance is measured. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-12 "Rate year"

Sec. 12. As used in this chapter, "rate year" refers to a particular year in a multi-year rate plan with respect to which: (1) authorized base rates; and (2) adjustments to base rates, including adjustments based on an electricity supplier's performance in meeting performance metrics serving as the basis of all applicable PIMs; are in effect. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-13 "Service interruption"

Sec. 13. As used in this chapter, "service interruption" means the loss of electric service to one (1) or more customers connected to the distribution portion of an electricity supplier's system. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-14 "Service restoration performance metric"

Sec. 14. As used in this chapter, "service restoration performance metric", with respect to an electricity supplier, means a metric that: (1) is determined by the commission under section 24 of this chapter for a particular rate year included in that electricity supplier's multi-year rate plan; (2) is based on the most recent service restoration performance report submitted to the commission by the electricity supplier under section 19 of this chapter; and (3) is used by the commission to establish a service restoration PIM that applies to that rate year and provides financial rewards or penalties to the electricity supplier based on the electricity supplier's measured service restoration performance. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-15 "Sustained service interruption"

Sec. 15. (a) As used in this chapter, "sustained service interruption" means a service interruption that is at least five (5) minutes in duration. (b) The term does not include the following, regardless of duration: (1) A planned service interruption that is: (A) initiated by an electricity supplier to perform scheduled activities, such as work related to: (i) system or facilities maintenance or upgrades; (ii) infrastructure improvements; or (iii) new construction; and (B) communicated to customers in advance. (2) A curtailment or interruption of service to a customer receiving service under an interruptible service tariff to the extent that the curtailment or interruption of service occurs in accordance with the customer's service agreement. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-16 "System average interruption duration index"

Sec. 16. As used in this chapter, "system average interruption duration index", or "SAIDI", means an index that: (1) indicates the total duration of sustained service interruptions for an electricity supplier's average customer during a specified period; and (2) is calculated by determining the quotient of: (A) the sum of sustained service interruption durations in minutes for the specified period; divided by (B) the total number of customers; in accordance with IEEE 1366. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-17 "System average interruption frequency index"

Sec. 17. As used in this chapter, "system average interruption frequency index", or "SAIFI", means an index that: (1) indicates the number of sustained service interruptions an electricity supplier's average customer experiences over a specified period; and (2) is calculated by determining the quotient of: (A) the total number of customers that experienced sustained service interruptions over the specified period; divided by (B) the total number of customers; in accordance with IEEE 1366. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-18 Customer affordability performance report; annual filing with commission; required information

Sec. 18. Beginning in 2027, before March 1 of each year, an electricity supplier shall file with the commission, on a form prescribed by the commission, a customer affordability performance report that includes the following information: (1) The electricity supplier's average monthly residential bill for each of the most recently concluded five (5) calendar years, normalized for weather if not otherwise normalized for weather through a rate adjustment mechanism described in section 1(b)(3) of this chapter. (2) The average annual percentage change (rounded to the nearest one-tenth percent (0.1%)) in the electricity supplier's average monthly residential bill over the course of the most recently concluded five (5) calendar years, normalized for weather if not otherwise normalized for weather through a rate adjustment mechanism described in section 1(b)(3) of this chapter. (3) For each of the most recently concluded five (5) calendar years, the annual percentage change in seasonally adjusted electricity prices for the United States as measured by the Consumer Price Index, as published by the United States Bureau of Labor Statistics. (4) The average annual percentage change (rounded to the nearest one-tenth percent (0.1%)) in seasonally adjusted electricity prices for the United States as measured by the Consumer Price Index, as published by the United States Bureau of Labor Statistics, over the course of the most recently concluded five (5) calendar years. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-19 Service restoration performance report; annual filing with commission; required information

Sec. 19. Beginning in 2027, before March 1 of each year, an electricity supplier shall file with the commission, on a form prescribed by the commission, a service restoration performance report that includes the following information for each of the most recently concluded six (6) calendar years: (1) Each of the following indices, reported to exclude major event days, for the electricity supplier's system in Indiana as a whole: (A) SAIDI. (B) SAIFI. (C) CAIDI. (2) Each of the following indices, reported to include major event days, for the electricity supplier's system in Indiana as a whole: (A) SAIDI. (B) SAIFI. (C) CAIDI. (3) The number of customers used by the utility in calculating each index required under subdivisions (1) and (2). As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-20 Requirement to submit petition for change in electricity supplier's basic rates and charges through multi-year rate plan; filing schedule and requirements; timing

Sec. 20. (a) Except as otherwise provided in subsections (b) and (c), and subject to the schedule set forth in this section, an electricity supplier must petition the commission for approval of any change in its basic rates and charges through the submission of a multi-year rate plan in accordance with this chapter. An electricity supplier shall file its first petition with the commission for approval of a multi-year rate plan under this chapter according to the following schedule: (1) After November 15, 2026, and before December 15, 2026, for the electricity supplier with the greatest number of Indiana customers. (2) After June 30, 2027, and before August 1, 2027, for an electricity supplier with respect to which the commission has issued an order that: (A) establishes basic rates and charges for the electricity supplier as part of a base rate case; and (B) is issued after April 30, 2024, and before February 1, 2025. (3) After December 31, 2027, and before February 1, 2028, for an electricity supplier with respect to which the commission has issued an order that: (A) establishes basic rates and charges for the electricity supplier as part of a base rate case; and (B) is issued after February 1, 2025, and before April 1, 2025. (4) After June 30, 2028, and before August 1, 2028, for an electricity supplier with respect to which the commission has issued an order that: (A) establishes basic rates and charges for the electricity supplier as part of a base rate case; and (B) is issued after June 1, 2025, and before July 1, 2025. (5) After December 31, 2028, and before February 1, 2029, for an electricity supplier with respect to which the commission has issued an order that: (A) establishes basic rates and charges for the electricity supplier as part of a base rate case that is not part of a multi-year rate plan under this chapter; and (B) is issued after January 1, 2026. (b) An electricity supplier may file its first petition with the commission for approval of a multi-year rate plan under this chapter before the beginning of the time frame that would otherwise apply to the electricity supplier under subsection (a) if the petition: (1) requests approval of a reduction in the electricity supplier's overall revenue requirement for the first rate year of the multi-year rate plan; (2) meets all requirements for a multi-year rate plan under this chapter; and (3) is filed with the commission not later than September 1, 2026. (c) An electricity supplier may petition the commission for relief for changes to the electricity supplier's basic rates and charges: (1) after March 14, 2026; and (2) before the beginning of the electricity supplier's applicable time frame for filing the electricity supplier's first petition for approval of multi-year rate plan under subsection (a). However, the filing of a petition for relief under this subsection does not exempt an electricity supplier from filing its first petition for a multi-year rate plan under this chapter in accordance with the schedule set forth in subsection (a). (d) An electricity supplier shall file its second petition and all subsequent petitions with the commission for approval of a multi-year rate plan under this chapter: (1) not earlier than sixty (60) days before; and (2) not later than thirty (30) days before; the expiration of its then current multi-year rate plan. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-21 Multi-year rate plans; electricity supplier's case in chief; base rates; authorized return; customer affordability performance metric, service restoration, and PIM; separate consideration from rate adjustment mechanisms; exclusion and deferment of costs

Sec. 21. (a) The following apply to a multi-year rate plan under this chapter: (1) An electricity supplier's petition for approval of a multi-year rate plan under this chapter must include the electricity supplier's: (A) case in chief (as defined in IC 8-1-2-42.7(c), including the electricity supplier's proposed: (i) revenue requirement; and (ii) base rates for each customer class; and (B) proposed test period using forward looking periods the close of which correspond with the end of the second and third rate years in the electricity supplier's multi-year rate plan; for each of the rate years in the multi-year rate plan. (2) The base rates for the first rate year of an electricity supplier's multi-year rate plan shall be established by the commission in the same manner that base rates would be established in a proceeding for a change in the electricity supplier's basic rates and charges that occurs outside of a multi-year rate plan, based on an appropriate test year under IC 8-1-2-42.7(e) used to determine the electricity supplier's actual and pro forma operating revenues, expenses, and operating income under current and proposed rates, adjusted for changes that are fixed, known, and measurable for ratemaking purposes and that occur within a reasonable time after the end of the test year. (3) The base rates for the second and third rate years of an electricity supplier's multi-year rate plan shall be established using: (A) changes in the electricity supplier's net plant in service from the end of the immediately preceding rate year, including any difference between: (i) actual net plant in service at the end of the rate year; and (ii) the projected net plant in service used in the electricity supplier's test period for that rate year; and (B) changes in the net balance of any regulatory asset or liability from the end of the immediately preceding rate year. As used in this subdivision, "net plant in service" refers to both utility plant in service and accumulated depreciation. (4) In establishing an electricity supplier's authorized return for the electricity supplier's multi-year rate plan, the commission shall consider any increased or decreased risk to: (A) the electricity supplier; and (B) the electricity supplier's ratepayers; that may result from the implementation of the multi-year rate plan. (5) For each rate year in an electricity supplier's multi-year rate plan, the following apply: (A) A customer affordability performance metric that: (i) is determined by the commission under section 23 of this chapter for that rate year; (ii) is based on the most recent customer affordability performance report submitted to the commission by the electricity supplier under section 18 of this chapter; and (iii) is used by the commission to establish a customer affordability PIM that applies to that rate year. (B) A customer affordability PIM that: (i) is based on the electricity supplier's performance in meeting the customer affordability performance metric described in clause (A); and (ii) provides financial rewards or penalties to the electricity supplier based on that performance in accordance with section 23 of this chapter. (C) A service performance restoration metric that: (i) is determined by the commission under section 24 of this chapter for that rate year; (ii) is based on the most recent service restoration performance report submitted to the commission by the electricity supplier under section 19 of this chapter; and (iii) is used by the commission to establish a service restoration PIM that applies to that rate year. (D) A service restoration PIM that: (i) is based on the electricity supplier's performance in meeting the service restoration performance metric described in clause (C); and (ii) provides financial rewards or penalties to the electricity supplier based on that performance in accordance with section 24 of this chapter. (b) An electricity supplier's petition for approval of a multi-year rate plan under this chapter may include alternative regulatory practices, procedures, accounting treatments, and mechanisms that are consistent with this chapter. (c) A multi-year rate plan under this chapter shall be considered separately by the commission from all: (1) rate adjustment mechanisms, including the fuel adjustment charge under IC 8-1-2-42; and (2) other cost recovery mechanisms; otherwise allowed by law, unless otherwise incorporated into the multi-year rate plan. In an electricity supplier's first petition for a multi-year rate plan under this chapter, the electricity supplier shall include a plan to incorporate planned capital expenditures, subject to preapproval by the commission, into the electricity supplier's subsequent multi-year rate plans under this chapter. (d) An electricity supplier may elect to: (1) exclude from its proposed multi-year rate plan; and (2) defer for consideration by the commission and for future recovery; costs incurred or to be incurred in a regulatory asset, to the extent those specific costs are incremental and are not otherwise already included for recovery in the electricity supplier's rates, as authorized by IC 8-1-2-10. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-22 Commission's approval of multi-year rate plan; required findings; commission's authority to examine rates, conduct reviews, and initiate proceedings to adjust rates or PIMs before expiration of multi-year rate plan

Sec. 22. (a) The commission shall approve a multi-year rate plan for an electricity supplier under this chapter if, after notice and hearing, the commission finds the following: (1) That the electricity supplier's rates under the multi-year rate plan are just and reasonable. (2) That the multi-year rate plan reasonably assures the continuation of safe and reliable electric service for the electricity supplier's customers. (3) That the multi-year rate plan will not unreasonably prejudice any class of the electricity supplier's customers and will not result in sudden substantial rate increases to the electricity supplier's customers or any class of customers. (4) That the multi-year rate plan: (A) will result in just and reasonable rates; (B) is in the public interest; and (C) is consistent with the requirements set forth in this chapter and in the rules adopted by the commission under section 27 of this chapter. (5) That the multi-year rate plan meets any other legal requirement. (b) At any time before the expiration of an electricity supplier's approved multi-year rate plan under this chapter, the commission may, with good cause and upon its own motion, or at the request of the office of utility consumer counselor or the electricity supplier do any of the following: (1) Examine the reasonableness of the electricity supplier's rates under the multi-year rate plan. (2) Conduct periodic reviews with opportunities for public hearings and comments from interested parties. (3) Initiate a proceeding to adjust the base rates or PIMs under the multi-year rate plan as necessary to ensure that the multi-year rate plan continues to satisfy the criteria set forth in subsection (a). As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-23 Customer affordability performance metric; calculation; adjustment of electricity supplier's authorized return downward or upward

Sec. 23. (a) For each rate year in an electricity supplier's multi-year rate plan, the commission shall determine a customer affordability performance metric for that electricity supplier by calculating the difference between: (1) the average annual percentage change (rounded to nearest one-tenth percent (0.1%)) in the electricity supplier's average monthly residential bill over the course of the most recently concluded five (5) calendar years (normalized for weather if not otherwise normalized for weather through a rate adjustment mechanism described in section 1(b)(3) of this chapter); minus (2) the average annual percentage change (rounded to nearest one-tenth percent (0.1%)) in seasonally adjusted electricity prices for the United States as measured by the Consumer Price Index, as published by the United States Bureau of Labor Statistics, over the course of the most recently concluded five (5) calendar years; as reported in the most recent customer affordability performance report submitted to the commission by the electricity supplier under section 18 of this chapter. The difference calculated under this subsection is the electricity supplier's customer affordability performance metric for the rate year. (b) If the electricity supplier's customer affordability performance metric under subsection (a) is a positive number that exceeds two (2) percentage points, the commission shall adjust the electricity supplier's authorized return for the rate year downward by not more than one (1) basis point. (c) If the electricity supplier's customer affordability performance metric under subsection (a) is a negative number that when multiplied by negative one (-1) exceeds two (2) percentage points, the commission shall adjust the electricity supplier's authorized return for the rate year upward by not more than one (1) basis point. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-24 Service restoration performance metric; calculation; adjustment of electricity supplier's authorized return upward or downward

Sec. 24. (a) For each rate year included in an electricity supplier's multi-year rate plan, the commission shall determine, using the most recent service restoration performance report submitted to the commission by the electricity supplier under section 19 of this chapter, a service restoration performance metric for that electricity supplier in the following manner: STEP ONE: Determine the electricity supplier's average SAIDI over the course of the five (5) calendar years immediately preceding the most recently concluded calendar year, including major event days, for the electricity supplier's system in Indiana as a whole. STEP TWO: Determine the electricity supplier's SAIDI for the most recently concluded calendar year, including major event days, for the electricity supplier's system in Indiana as a whole. STEP THREE: Calculate the difference between the STEP ONE result minus the STEP TWO result. STEP FOUR: Calculate the quotient of the STEP THREE result divided by the STEP ONE result, rounded to the nearest one-hundredth (0.01). STEP FIVE: Calculate the product of one hundred (100) multiplied by the STEP FOUR result. This product is the electricity supplier's service restoration performance metric for the rate year. (b) If the electricity supplier's service restoration performance metric under subsection (a) is a positive number that exceeds five (5), the commission shall adjust the electricity supplier's authorized return for the rate year upward by not more than one-half (0.50) basis point. (c) If the electricity supplier's service restoration performance metric under subsection (a) is a negative number that when multiplied by negative one (-1) exceeds five (5), the commission shall adjust the electricity supplier's authorized return for the rate year downward by not more than one-half (0.50) basis point. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-25 Commission's annual report; inclusion of information concerning multi-year rate plans; electricity supplier's duty to provide information; protection of confidential information

Sec. 25. (a) Beginning in 2029, the commission shall include in the annual report that the commission is required to submit under IC 8-1-1-14 before October 1 of each year the following information as of the last day of the most recently concluded state fiscal year: (1) For each electricity supplier that is subject to this chapter, the date of the electricity supplier's most recently filed petition for approval of a multi-year rate plan under this chapter. (2) For each petition listed under subdivision (1): (A) the date of the commission's final order approving the multi-year rate plan; or (B) if the petition is pending before the commission, the procedural status of the petition. (3) For each electricity supplier that is subject to this chapter, the beginning and end dates of the electricity supplier's current multi-year rate plan under this chapter, to the extent applicable in a report submitted under this section before 2030. (4) For each electricity supplier that is subject to this chapter, the electricity supplier's calculated: (A) customer affordability performance metric; and (B) service restoration performance metric; for the current rate year in the electricity supplier's multi-year rate plan under this chapter, to the extent applicable in a report submitted under this section before 2030. (5) For each electricity supplier that is subject to this chapter, any available data as to the impact on customer rates of the electricity supplier's applicable: (A) customer affordability performance metric; and (B) service restoration performance metric; during the most recently concluded rate year under a multi-year rate plan of the electricity supplier under this chapter. (6) Any other quantitative or qualitative information that the commission considers relevant for members of: (A) the interim study committee on energy, utilities, and telecommunications established by IC 2-5-1.3-4(8); and (B) the general assembly; to consider in evaluating multi-year rate plans under this chapter. (b) Subject to subsection (c), an electricity supplier shall provide the commission, at the time and in the manner prescribed by the commission, any information or related materials required by the commission to fulfill the commission's reporting obligations under subsection (a). (c) Upon request by an electricity supplier, the commission shall determine whether any information or related materials required by the commission under subsection (b): (1) are confidential under IC 5-14-3-4; (2) are exempt from public access and disclosure by Indiana law; and (3) must be treated as confidential and protected from public access and disclosure by the commission. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-26 Treatment of references to "base rate case" and similar terms in Indiana Code and commission's rules

Sec. 26. After March 14, 2026, any reference in IC 8-1, or in rules adopted by the commission, to: (1) a "base rate case"; (2) a "general rate case"; (3) a proceeding for a change or increase in "basic rates and charges"; or (4) words of similar import; with respect to an electricity supplier subject to this chapter is considered a reference to the establishment of the electricity supplier's basic rates and charges for the first year of the electricity supplier's multi-year rate plan under this chapter. As added by P.L.36-2026, SEC.10.

Ind. Code § 8-1-46-27 Implementing rules; adoption by commission

Sec. 27. The commission shall adopt rules under IC 4-22-2 to implement this chapter. As added by P.L.36-2026, SEC.10.

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