SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________________________
FORM 8-K
_________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July 21, 1995
Date of Event (or earliest event)
being reported: July 21, 1995
IPALCO ENTERPRISES, INC.
(Exact name of registrant as specified
in its charter)
Indiana 1-8644 35-1575582
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
25 Monument Circle, Indianapolis, Indiana 46204
(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code: (317) 261-8261
<PAGE>
Item 5. Other Event
IPALCO Enterprises, Inc., parent of
Indianapolis Power & Light Company, issued the
following press release on July 21, 1995, relating
to the rate case settlement agreement:
Marni Lemons (317) 261-8219
e-mail: [email protected]
Investor Contact:
Jennifer Kent (317) 261-8259
e-mail: [email protected]
IPALCO Home Page:
http://www.ipalco.com
- - IPL Reaches Settlement Agreement With Parties In
Its Pending Rate Case -
Indianapolis, July 21, 1995 -- Indianapolis Power &
Light Company (IPL) has reached a Settlement
Agreement with the parties in its pending $88-
million retail electric rate case, the Company
announced today.
Under terms of the agreement, new rates will be
implemented in two steps, and IPL will not seek
another increase until after July 1, 1997, at the
earliest. IPL had intended to file a petition for
another rate increase to coincide approximately with
the June, 1996, in-service date of two, pollution-
control devices, or scrubbers, at its Petersburg
Generating Station.
The Settlement Agreement must be approved by the
Indiana Utility Regulatory Commission (IURC).
The Company last received a rate order in 1986.
The agreement will raise IPL's retail electric rates
in two steps:
$35 million in additional annual revenues on
Sept. 1, 1995, following approval of the
agreement by the IURC; and
An additional $25 million on June 30, 1996,
conditioned upon certification that the
scrubbers under construction at the Petersburg
Generating Station are in service.
By customer class, the percent rate increase in Step
1 is as follows:
Residential: 7.6%
Small Commercial/Industrial: 5.3%
Large Commercial/Industrial: 4.0%
Public Lighting: 5.7%
(more)
(add one)
In Step 2 all classes of customers will see
approximately a 3.8% increase in their monthly
bills.
For a residential customer using 1,000 kilowatt
hours of electricity a month, the average monthly
bill will increase from $60.07 to $64.00 in Step
One. In Step Two an average residential customer
will see an additional increase of approximately
$2.50 on a monthly bill.
"IPL is proud that over the years our rates have
been some of the lowest in the country. Even with
this two-step increase, our customers will continue
to receive some of the most reasonably priced
electric service in the U.S.," said IPL President
Ray Humke.
IPL also has agreed not to file a request to build
any large, base-load generating capacity before Jan.
1, 2000. This provision can be waived in extreme
circumstances, such as the unforeseen loss of 250
megawatts or more of IPL's existing base-load
capacity.
In addition, the parties agreed to resolve pending
litigation involving IPL's Clean Air Act compliance
plan.
IPL is the principal subsidiary of IPALCO
Enterprises, Inc., a multi-state energy company
providing a variety of energy products and services.
IPL provides electric service to approximately
400,000 residential, commercial and industrial
customers in Indianapolis and in portions of other
central Indiana counties.
# # #
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: July 21, 1995
IPALCO ENTERPRISES, INC.
By/s/ John R. Brehm
Name: John R. Brehm
Title: Vice President and
Treasurer
