AES Indiana held its fourth Public Advisory Meeting for the 2022 Integrated Resource Plan
September 23, 2022
AES Indiana, a subsidiary of The AES Corporation (NYSE: AES), continued its 2022 Integrated Resource Plan (IRP) process this week during its fourth of five Public Advisory Meetings. Stakeholders and the public heard presentations from stakeholders, updates to IRP schedules and timelines, modeling updates, review of retirement and replacement analysis, and results from the preliminary IRP scorecard during the live virtual meeting.
Throughout the process, AES Indiana continues to share insight into its 2022 IRP process and collect feedback from stakeholders through public advisory meetings. AES Indiana provided an open invitation to stakeholders to present during the IRP process. Two stakeholders who responded to that invitation presented at this meeting including representatives from Wartsila, who presented on reciprocating engines, and the Nuclear Energy institute who presented on Small Modular Reactors (SMRs).
Following the stakeholder presentations, AES Indiana’s IRP team gave a brief recap of advisory meetings to date and an update on timelines for the rest of the IRP process, which includes a one-month extension of the IRP submission granted by the IURC, now scheduled for December 1. In the time since the June meeting, AES Indiana’s IRP team has updated its modeling and framework to better reflect current trends. This included updating scenarios to reflect impacts of the Inflation Reduction Act of 2022 and forecasting for pricing.
To review retirement and replacement analysis results, AES Indiana’s IRP team presented an in-depth look at how six different generation strategies were modeled in terms of firm unforced capacity position in summer and winter; installed capacity cumulative additions; future energy mix for the next 20 years; demand response and energy efficiency; and cost (PVRR – present value of revenue requirement). These results filled in the portfolio matrix for the four scenarios modeled to see side-by-side comparisons.
AES Indiana’s IRP team discussed an analysis of replacement resource cost sensitivity in response to current volatility of replacement resource capital cost caused by supply constraints and potential solar tariffs. Results for each portfolio and key takeaways were shared.
To conclude the meeting, AES Indiana’s IRP team shared the results previously presented into the IRP scorecard to show preliminary results tied to affordability and environmental sustainability. Additional metrics for this scorecard, including results related to reliability, stability, resiliency, risk, opportunity, and economic impact, are being collected and reviewed now to be included in the fifth and final public advisory meeting. At that meeting, the final scorecard and selected Preferred Resource Portfolio will be the primary topics.
The fifth Public Advisory Meeting is anticipated to be held in early November 2022. AES Indiana’s Preferred Resource Portfolio, including a short-term action plan, will be shared and available for public comment during the fifth and final public advisory meeting. The 2022 IRP will be filed on or before December 1, 2022.
Read more about the 2022 IRP process, download the Public Advisory Meeting presentations and IRP fact sheets, see a glossary of IRP terms with definitions, and review Q&A responses at aesindiana.com/integrated-resource-plan.
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About AES Indiana
AES Indiana, an AES Company, provides retail electric service to more than 500,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, AES Indiana has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please Connect with AES Indiana on Twitter, Facebook, and LinkedIn. For more information about how AES Indiana is accelerating the future of energy, visit aesindiana.com/hellofuture.