I&M is Future Ready with Plans to Enhance Diverse Energy Mix

Core Viewpoint - Indiana Michigan Power (I&M) has submitted its 2024 Integrated Resource Plan (IRP) to the Indiana Utility Regulatory Commission (IURC), outlining its strategy to adapt to evolving energy needs while ensuring reliable power delivery [1][2]. Group 1: Future Energy Strategy - The Future Ready Plan aims to create a resilient grid through a diverse mix of generation resources, energy efficiency, and demand response programs, ensuring reliable and affordable energy for customers [2]. - The IRP provides a detailed analysis of future energy requirements and the company's approach to meet customer demand through the 2044 planning period [2][4]. - I&M is mandated to submit a 20-year IRP every three years, with the next submission planned for its Michigan service area in the following year [3]. Group 2: Generation Resource Diversification - I&M's current generation mix includes solar, wind, nuclear, coal, and hydroelectric resources, with plans to enhance this mix to meet increasing energy demand [5]. - The Indiana IRP emphasizes the addition of renewable and natural gas resources, including solar, storage, wind, and natural gas combined cycle and combustion turbine resources [5][6]. - The company plans to relicence the Elkhart and Mottville hydroelectric facilities in 2030 and 2033, respectively, as part of its resource diversification strategy [5]. Group 3: Nuclear Energy Focus - The 2024 Indiana IRP recommends relicensing both units at the D.C. Cook Nuclear Plant, extending their licenses to 2054 and 2057 [7]. - The plan also explores the development of Small Modular Reactor (SMR) technology at the Rockport site, which could provide approximately 600 MW of capacity by 2037 [8]. Group 4: Energy Efficiency and Demand Response - The IRP includes strategies for energy efficiency and demand response programs, allowing customers to lower their energy usage and contribute to a sustainable energy future [9]. - I&M will file with the IURC throughout 2025 to seek approval for specific resources aligned with the Future Ready Plan, with new resources expected to be available by 2026 [10]. Group 5: Company Overview - Indiana Michigan Power serves over 600,000 customers, with more than 85% of its energy delivered in 2023 being emission-free [11]. - The company has a generation portfolio that includes 2,278 MW of nuclear generation, 450 MW of purchased wind generation, over 22 MW of hydro generation, and approximately 35 MW of large-scale solar generation [11].