IPL withdraws rate increase request to cover cost of building new natural gas plant

February 24, 2017

INDIANAPOLIS, Ind.—Indianapolis Power & Light Company (IPL), a subsidiary of The AES Corporation (NYSE: AES), today filed a motion withdrawing its request for a rate increase to cover the cost of building a natural gas plant in Martinsville, Indiana.

IPL has been notified by its construction contractor, CB&I Stone & Webster, that the project will not be complete on April 30, 2017 as previously anticipated. As a result, the decision has been made to file a motion to withdraw the rate increase request until a new construction timeline is confirmed.

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About Indianapolis Power & Light Company and AES:  
Indianapolis Power & Light Company (IPL), an AES Company, provides retail electric service to more than 490,000 residential, commercial and industrial customers in Indianapolis, as well as portions of other Central Indiana communities surrounding Marion County. During its long history, IPL has supplied its customers with some of the lowest-cost, most reliable power in the country. For more information about the company, please visit www.IPLpower.com or connect with us at www.twitter.com/IPLpower, www.facebook.com/IPLpower or www.linkedin.com/company/IPLpower.

The AES Corporation (NYSE: AES) is a Fortune 200 global power company. We provide affordable, sustainable energy to 17 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce of 21,000 people is committed to operational excellence and meeting the world’s changing power needs. AES’ 2015 revenues were $37 billion in total assets. To learn more, please visit http://www.aes.com. Follow AES on Twitter @TheAESCorp.

Media Contact:
Brandi Davis-Handy
AES United States
Office: 317.261.8423, Media Hotline: 317.261.5905
brandi.davishandy@aes.com