FORT WAYNE, Ind. (AP) — Indiana Michigan Power is proposing a $787 million overhaul of its electrical distribution system in northern and eastern Indiana.
The Fort Wayne-based utility says its plan includes replacing hundreds of miles of miles of electric cable and thousands of poles, along with upgrades to underground networks in South Bend, Fort Wayne, Elkhart and Muncie.
The company says the upgrades will be done over a seven-year period beginning in 2015 and an increase of about 1 percent on the average customer bill.
Greater Fort Wayne Inc. CEO Mark Becker tells The Journal Gazette he believes the project will help ensure reliable power for the region.
The project needs the approval of the Indiana Utility Regulatory Commission. Indiana Michigan provides electricity to nearly 460,000 homes and businesses in the state.