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Each Indiana utility has different net metering rules, rebate programs, and pitch angles. Selecting here loads the right calculator math and proposal template.
AES Indiana
AES Indiana (d/b/a Indianapolis Power & Light) · Indianapolis + central Indiana · regulated IOU under IURC oversight
EDG cohort (post-July 2022 installs): exports credited at 5.4325¢/kWh (effective Jul 1, 2026, IURC Cause 45504 compliance filing) — the 1.25× MISO marginal LMP statutory rate per IC 8-1-40-17. Imports billed at full retail (~14¢/kWh blended residential). 2024 rate case raised average residential bills by ~$30/month. AES Indiana is investing in 820 MW of utility-scale battery capacity by 2032 — proof point that storage is real infrastructure. No residential battery rebates; no battery VPP / DR program.
Lead with: EDG spread capture + 2024 rate-case context + utility-scale battery proof point
CenterPoint Energy Indiana South
CenterPoint Energy Indiana South (CEI South, formerly Southern Indiana Gas and Electric / Vectren) · Evansville + southwestern Indiana · regulated IOU under IURC oversight (I.U.R.C. No. E-14)
EDG cohort (post-July 2022 installs): exports credited at 5.561¢/kWh (Rider EDG, effective Mar 1, 2026, I.U.R.C. No. E-14) — the 1.25× MISO marginal LMP statutory rate per IC 8-1-40-17. Imports billed at Standard residential Rate RS: 15.7230¢/kWh energy + 4.122¢/kWh fuel + 0.17¢/kWh variable production + adjustments ≈ 20.0¢/kWh all-in (effective Mar 5, 2026). Customer Facilities Charge $11.00/month. The widest retail-vs-EDG spread among the IN IOUs along with NIPSCO — battery self-consumption case is strong.
Lead with: Highest IN retail rate (~20¢/kWh) + EDG spread capture + 2024 rate-case context
Duke Energy Indiana
Duke Energy Indiana · Plainfield + central, south, and west Indiana (largest IN service territory by geography) · regulated IOU under IURC oversight (I.U.R.C. No. 165)
EDG cohort (post-July 2022 installs): exports credited at 4.1542¢/kWh (verified May 2026 against duke-energy.com customer-facing Rider 54 PDF — Third Revised Sheet No. 54, Issued March 13, 2024) — the 1.25× MISO marginal LMP statutory rate per IC 8-1-40-17. Duke is the LOWEST EDG rate of the 5 IN IOUs; the rate has held at $0.041542/kWh through the 2025 and 2026 annual compliance filing cycles (no rate change propagated to Duke's customer-facing Rider 54 document). Imports billed at retail — TODO(in-verify-duke-retail) for current Rate RS values; secondary sources cite ~11-13.40¢/kWh blended. Customer charge TODO(in-verify-duke-cust-chg); secondary cite ~$9.40/mo. Duke Energy Indiana 11% phased rate increase: 8% effective Feb 27, 2025 + 3% effective early 2026.
Lead with: Duke 11% phased rate-increase context + EDG spread + cohort-cliff hedge
Indiana Michigan Power
Indiana Michigan Power (I&M, an AEP subsidiary) · Fort Wayne + northeast Indiana + parts of southern Michigan · regulated IOU under IURC oversight (Indiana side) and Michigan PSC (Michigan side)
EDG cohort (post-July 2022 installs): exports credited at 5.466¢/kWh (Rider EDG, effective billing month March 2026, IURC Cause 45506, Second Revised Sheet No. 41.8 dated Feb 17, 2026 — extracted from IM_IN_TB_20_04-30-2026.pdf at indianamichiganpower.com) — the 1.25× MISO marginal LMP statutory rate per IC 8-1-40-17. NOTE: the 2026 rate of 5.466¢ is materially DOWN from the 2023 rate of 8.482¢ (~35% drop reflecting PJM LMP softening at the I&M load zone). I&M is no longer the outlier high-EDG utility in IN; the 2026 rate is in line with AES (5.43¢), CenterPoint (5.56¢), and NIPSCO (4.97¢). Imports billed at retail ~16.67¢/kWh blended (Find Energy secondary). I&M has a 22% rate hike petition active per Citizens Action Coalition. Consistent counter-trend: June 2026 average residential bill projected to DROP ~3.6% (~$6/mo) from a PJM/Off-System Sales rider reduction — the same PJM softening that drove the EDG rate down.
Lead with: Standard EDG spread (~11¢) + 22% rate-hike petition hedge + AEP parent posture
NIPSCO
NIPSCO (Northern Indiana Public Service Company, a NiSource subsidiary) · northern Indiana, including Gary, Hammond, South Bend, and the I-65/I-80 corridor · regulated IOU under IURC oversight
EDG cohort (post-July 2022 installs): exports credited at 4.9685¢/kWh (Rider 689 Excess Distributed Generation, effective Apr 1, 2026) — the 1.25× MISO marginal LMP statutory rate per IC 8-1-40-17. Imports billed at Rate 611 Residential: $0.205/kWh flat (effective Mar 1, 2026) — the highest single residential energy rate in IN. Customer Charge $14.00/month. The widest retail-vs-EDG spread in IN (~15.5¢/kWh) — battery self-consumption case is strongest here. NIPSCO additionally has a LEGACY Rate 665 Renewable Feed-In Tariff (FIT) closed to new applicants but with grandfathered Phase II contracts paying ~$0.17/kWh for Micro Solar (≤10 kW) production — see rep guide FIT screening protocol.
Lead with: Widest IN spread (~15.5¢/kWh) + flat retail rate + FIT screening protocol