After bipartisan backlash, AES Indiana has released a proposal to cut its planned electricity rate hike in half for residential customers and delay further increases until 2030.

The new plan, which still must be approved by the Indiana Utility Regulatory Commission this upcoming spring, is expected to increase the typical residential customer's electricity bill by roughly $10 by 2027, according to AES. That figure is based on energy usage of 1,000 kilowatt-hours a month.

The 6.7% overall rate increase is about half as large as the original changes proposed this June, which were projected to add more than $20 to the average household's monthly bill.

The changes are part of a new settlement AES has proposed with parties including the city of Indianapolis and several major businesses.

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