December 22, 2014 2:11 AM ET

Electric Utilities

Company Overview of Indiana Michigan Power Company

Company Overview

Indiana Michigan Power Company generates, transmits, and distributes electric power to retail and other customers in Northern and Eastern Indiana and Southwestern Michigan. The company is also involved in the supply and marketing of electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants. It generates electric power from hydro, coal, and nuclear sources. Indiana Michigan Power Company owns or leases approximately 4,518 megawatts of generating capacity; and serves approximately 587,000 retail customers. It principally serves primary metals, electrical and electronic machinery, fabricated metal products, rubber...

1 Riverside Plaza

Columbus, OH 43215

United States

Founded in 1925

2,582 Employees

Phone:

614-716-1000

Key Executives for Indiana Michigan Power Company

Chairman of the Board
Age: 54
Chief Financial Officer
Age: 46
Chief Accounting Officer and Controller
Assistant Secretary
Vice President of External Affairs and Director
Age: 59
Compensation as of Fiscal Year 2014.

Indiana Michigan Power Company Key Developments

Indiana Michigan Power Plans to Build and Operate Five Solar Generation Facilities

Indiana Michigan Power plans to build and operate five solar generation facilities, adding another emission-free source of power to the company's generation portfolio, which already includes nuclear, wind and hydro. If approved by the Indiana Utility Regulatory Commission, the Clean Energy Solar Pilot Project will have a combined generation capacity of about 16 megawatts, producing energy equivalent to powering more than 2,500 homes for a year. I&M's Clean Energy Solar generation facilities will be located in different areas of the company's service territory in the two states. Facilities are tentatively expected to be located in the Muncie-Marion area, South Bend area and in Michigan, but locations of all five facilities have yet to be finalized. Construction is tentatively scheduled to begin in early 2016, with completion expected in late 2016. In addition to the new source of clean energy, I&M will use the Clean Energy Solar Pilot Project as an opportunity to study first-hand the various facets of designing, constructing and operating a utility-scale solar facility. Being owner and operator of the Clean Energy Solar Pilot Project facilities will enable I&M to become proficient in operating solar generation and integrating it reliably into the transmission grid.

The University of Notre Dame Collaborates with General Electric Co., The City of South Bend, Indiana Economic Development Corp., Great Lakes Capital and Indiana Michigan Power to Build Nations Top Turbine Engine Component Research and Testing Facility

The University of Notre Dame and five public and private partners announced a $36 million project that will be the nations foremost research and test facility for advancing the technology used in the massive gas turbine engines used by commercial and military aircraft, power plants and the oil and gas industry. Construction in South Bends Ignition Park on a 43,000-square-foot building of which 25,000 square feet will be for the Notre Dame Turbomachinery Facility will begin this summer and be completed by March. The facility will be fully operational in July 2016. This venture will be a cutting-edge research and testing facility for the turbine engine industry as well as a tremendous economic driver for the region. Notre Dame will contribute $7.5 million to the project. Other partners are the General Electric Co., which has committed $13.5 million to fund research and testing for five years; the city of South Bend, which is contributing $4.4 million inclusive of equipment, land for a new power substation and tax abatements; the state of Indiana, through the Indiana Economic Development Corp., which is providing up to $600,000 in training grants and up to $2 million in infrastructure assistance; Great Lakes Capital, which is providing upfront capital of approximately $6 million to construct the facility; and Indiana Michigan Power, which will be investing $2 million in a new substation to provide the considerable power needed to operate the facility's multiple test cells.

I&M Announces $500 Million Powering Up Northeast Indiana Plan

Indiana Michigan Power announced plans to invest $500 million to upgrade northeast Indiana's electricity transmission infrastructure. Powering Up Northeast Indiana includes projects that will help ensure the continued reliability of the transmission system, which is vital not only to current customers but also to support the development of the area's economy. The availability of plentiful, reliable power at a comparatively low cost is crucial for business location and expansion. Powering Up Northeast Indiana involves rebuilding and improving power lines, installing some new transmission lines, building and improving substations, and updating equipment. The project will strengthen transmission capability in and around Fort Wayne. The work is part of a larger, regional upgrade effort by AEP. Transmission lines carry power over long distances, across multiple service territories and benefit customers in multiple states. Most costs will be spread among a number of utilities and are expected to have minimal effect on I&M's rates. As part of its good neighbor policy, I&M is engaging residents affected by the project, explaining the need, reviewing options and gathering their feedback. While programs like Powering Up Northeast Indiana are critical to the long-term reliability and safety of the area's electric system, understand they can, at times, be inconvenient.

Similar Private Companies By Industry

Company Name Region
Crystal Creek CoalPower Funding, LLC United States
Minnesota Power Enterprises, Inc. United States
Dominion Energy New England, LLC United States
KLT Energy Services, Inc. United States
California Independent System Operator Corporation United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Bertelsmann AG Europe
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Indiana Michigan Power Company, please visit www.indianamichiganpower.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.