INDIANAPOLIS — The city's opposition to a proposed utility rate increase has ended with an agreement to lock in a rate that is lower than what had been sought, an Indianapolis official said Wednesday.

Kyle Bloyd, an Indianapolis Department of Public Works spokesperson, said the most recent AES rate case has ended with a settlement they say "will save millions of dollars for taxpayers and prevent a new base rate increase from the company until the next decade."

“Because of this intervention from the city, AES will not be able to raise rates for many years,” said Indy DPW Director Todd Wilson. “Our team went to bat on behalf of taxpayers, and the result is a win for the community.”

DPW said the settlement includes the following terms:

An approximately 50% reduction in AES Indiana’s sough

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