Indianapolis Power & Light's Revenue Hike Slashed by Nearly 65 Percent to Reflect Federal Tax Cut Savings, Concessions The Indiana Utility Regulatory Commission cut a hike in Indianapolis Power & Light Company's revenue requirement to about $44 million, down from the initially requested $124.5 million, under a settlement agreement approved by the agency on Aug. 15. The boost, representing a 3.2 percent revenue increase, reflects lower corporate rates under the federal tax law as well as accounts for concessions with consumer and industry groups. The agreement provides a nearly $36-million credit to customers through adjustments to the company's environmental compliance cost recovery. Indianapolis Power & Light is a unit of AES Corporation.