August 27, 2016 6:36 PM ET

Electric Utilities

Company Overview of Indiana Michigan Power Company

Company Overview

Indiana Michigan Power Company generates, transmits, and distributes electric power to retail and other customers in northern and eastern Indiana and southwestern Michigan. The company also supplies and markets electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants. It generates electric power from hydro, coal, and nuclear sources. The company owns or leases approximately 3,523 megawatts of generating capacity; and serves approximately 588,000 retail customers. It principally serves primary metals, transportation equipment, electrical and electronic machinery, fabricated metal products, rubber and chemicals ...

1 Riverside Plaza

Columbus, OH 43215

United States

Founded in 1925

2,489 Employees

Phone:

614-716-1000

Key Executives for Indiana Michigan Power Company

Chairman of the Board and Chief Executive Officer
Age: 56
President, Chief Operating Officer and Director
Age: 52
Chief Financial Officer, Executive Vice President and Director
Age: 48
Chief Accounting Officer and Controller
Assistant Secretary
Compensation as of Fiscal Year 2016.

Indiana Michigan Power Company Key Developments

Indiana Michigan Power's Michiana Solar Power Plant Begins Generating Energy

Indiana Michigan Power is now generating energy at its first Michiana-area solar power plant The Twin Branch Solar Power Plant went online on August 18, 2016 following a thorough testing and commissioning process. The facility is generating up to 2.6 megawatts of electricity, and its generation is expected to power the equivalent of about 365 homes annually. The Twin Branch plant is located just east of Mishawaka, in an industrial area north of the AM General factory. Twin Branch is the second of four I&M solar power plants plant to generate energy. The 2.5-megawatt Deer Creek plant just outside Marion, Ind., went online late in 2015. Construction is ongoing at two additional Michiana solar plants - near New Carlisle, Ind., and Watervliet, Mich., which will begin generating solar energy later in 2016. Combined, the four solar plants will have a capacity of nearly 15 megawatts and produce enough energy to power 2,000 homes annually. The four plants are part of I&M's Clean Energy Solar Pilot Project. In addition to solar, I&M's generation portfolio also includes nuclear, hydro, coal and, through power purchase agreements, wind. About 60% of the energy generated by I&M in 2015 came from non-carbon-emitting sources.

Indiana Michigan Power to Build Five Solar Power Facilities

Indiana Michigan Power will add solar energy to its generation fleet following the Indiana Utility Regulatory Commission's approval of I&M's plans for five solar facilities with a combined capacity of nearly 16 megawatts. Three of the facilities will be in the Michiana area, including two in St. Joseph County and one near Watervliet, Mich. A fourth will be in Marion, Ind., and a fifth location has not yet been determined. Approval of I&M's Clean Energy Solar Pilot Project plans comes at a time when solar technology is becoming increasingly efficient. The costs of solar resources are declining, and utility-scale solar is more cost-effective than rooftop systems. The addition of zero-carbon solar also meets the increasing interest of customers who want to use more renewable energy to meet their needs. The four facilities where locations are final will be on property owned by I&M near existing and future I&M substations, which helps minimize the cost of delivering the energy to the transmission grid. The estimated cost of the project is $38 million. The overall impact on customer rates is expected to be about three-tenths of 1%, but the specific effect on individual rate classes such as residential or commercial will be determined once the actual costs are known.

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Recent Private Companies Transactions

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