US Energy Price Monitorby KadoaUpdated weeklyStar on GitHub

NewInsight: Investor-owned utilities charge 23% more for power

Michigan

Indiana Michigan Power (AEP) electricity rates

What homes pay Indiana Michigan Power (AEP) for electricity, from EIA.

Investor-owned utility, 113,556 homes in Michigan. EIA lists it as Indiana Michigan Power Co.

Headlines

Average price
16.7¢ a kWh
Down 5.5% on a year ago
Average bill
$136 a month
Down 7.2% on a year ago
Average use
816 kWh
A month. Michigan 630 kWh
Price rank in Michigan
7 of 8
1 is the most expensive

Over the 12 months to August 2026, Indiana Michigan Power (AEP) homes paid 16.7¢ a kWh, against 21.3¢ across Michigan.

Indiana Michigan Power (AEP) vs Michigan

Indiana Michigan Power (AEP)Michigan
Average price, 12 months to August 202616.7¢21.3¢
Price in August 202616.3¢23.0¢
Average monthly bill, 12 months$136$134
Bill in August 2026$152$172
Average monthly use816 kWh630 kWh
Price change, past year-5.5%+8.0%
Price change since 2019+23%+35%

Electricity price

Average residential price a kilowatt-hour, by month.

Up to and including August 2026

Source: EIA-861M monthly utility survey. Revenue over kilowatt-hours sold, including fixed charges.

Average monthly bill

What an average home pays a month.

Up to and including August 2026

Source: EIA-861M monthly utility survey.