Is AES Indiana cheaper than Indiana Michigan Power Co?

Yes — in 2024 AES Indiana customers averaged 13.75 cents/kWh versus 16.31 for Indiana Michigan Power Co (EIA-861). AES Indiana was cheaper by 2.56 cents, about $276 per year at 10,800 kWh.

Can I switch from Indiana Michigan Power Co to AES Indiana?

No — distribution territories are exclusive and set by address; you cannot pick between the two wires companies. Indiana has no residential supplier shopping either; rates are set in utility-commission proceedings.

Why is Indiana Michigan Power Co more expensive than AES Indiana?

EIA-861 averages reflect everything customers actually paid — supply costs, delivery rates, riders, and surcharges across each territory. Differences in generation mix, grid investment, storm costs, and customer density between Indiana Michigan Power and AES Indiana territory all feed the 2.56-cent gap.

AES Indiana vs Indiana Michigan Power Co: Which Is Cheaper? (Indiana, 2024)

AES Indiana customers paid less: an average 13.75¢/kWh in 2024 versus 16.31¢/kWh at Indiana Michigan Power Co (EIA-861) — a gap of 2.56¢/kWh, worth about $276 per year at typical usage (10,800 kWh/yr). Their territories meet in 2 IN counties (Hamilton, Madison). You cannot switch wires companies — the territory is set by your address.

Side by side (IN, EIA-861)

AES Indiana vs Indiana Michigan Power Co — residential averages from federal EIA-861 filings
Metric	AES Indiana	Indiana Michigan Power Co
2024 average price, ¢/kWh	13.75	16.31
2023 average price, ¢/kWh	13.76	16.09
Annual cost at 10,800 kWh, $/yr	$1,485	$1,761
Residential customers (2024)	469,499	422,062
Ownership	Investor-owned	Investor-owned
Counties served in IN	20	25

Average price = residential revenue ÷ sales (bundled service): the all-in price customers actually paid, including supply, delivery and riders. Profiles: AES Indiana · Indiana Michigan Power Co · Indiana overview.

Where the territories meet

Both utilities file EIA-861 service territory in: Hamilton · Madison counties (IN, 2024).

Adjoining or overlapping territory in a county does not mean households there can pick between the two — service maps are parcel-level and fixed. The county overlap mainly matters when choosing where to live or comparing town-level costs.

Can you actually choose between them?

No — not for delivery. Distribution territories are exclusive and set by address; AES Indiana and Indiana Michigan Power Co do not compete for the same meters. Indiana is a regulated retail market — there is no residential supplier shopping; rates are set in utility-commission proceedings (in.gov/iurc). The price gap above mainly matters when choosing where to live, comparing towns, or benchmarking your bill.

Questions people ask

Is AES Indiana cheaper than Indiana Michigan Power Co?: Yes — in 2024 AES Indiana customers averaged 13.75 cents/kWh versus 16.31 for Indiana Michigan Power Co (EIA-861). AES Indiana was cheaper by 2.56 cents, about $276 per year at 10,800 kWh.
Can I switch from Indiana Michigan Power Co to AES Indiana?: No — distribution territories are exclusive and set by address; you cannot pick between the two wires companies. Indiana has no residential supplier shopping either; rates are set in utility-commission proceedings.
Why is Indiana Michigan Power Co more expensive than AES Indiana?: EIA-861 averages reflect everything customers actually paid — supply costs, delivery rates, riders, and surcharges across each territory. Differences in generation mix, grid investment, storm costs, and customer density between Indiana Michigan Power and AES Indiana territory all feed the 2.56-cent gap.

About these numbers. Rates shown are averages computed from federal regulatory filings (EIA Form 861) and public tariff databases — confirm with your utility before making decisions; your actual rate depends on your tariff, usage, and riders. Distribution utility is determined by address and generally cannot be chosen; in retail-choice states you may choose your supplier for the supply portion of the bill. Savings figures use 10,800 kWh/yr (US average residential usage) and are estimates, not quotes. EnergySavings is an independent data project by CertiHomes and is not affiliated with any utility, supplier, or government agency.