Integrated Resource Planning (IRP) is a long-term plan – 20 year forecast in Indiana – prepared by a utility to guide future energy efficiency, generation, transmission, and distribution investments. The goal of the process is the selection of the optimal set of resources given the expected costs and risks. Integrated resource planning is often required of utilities by state utility commissions to determine least cost supply alternatives.
Jurisdictional electric utilities are required to submit an IRP every three years according to Indiana Code 8-1-8.5-3(e)(2). The IRPs are subject to a rigorous stakeholder process. IRPs describe how the utility plans to deliver safe, reliable, and efficient electricity at just and reasonable rates. Further, these plans must be in the public interest and consistent with state energy and environmental policies. Each utility’s IRP explains how it will use existing and future resources to meet customer demand. When selecting these resources, the utility must consider a broad range of potential future conditions and variables and select a combination that would provide reliable service in an efficient and cost-effective manner. Source: IURC, “Integrated Resource Plans” http://www.in.gov/iurc/2630.htm
Links to the Integrated Resource Planning of each IEA electric utility member:
NIPSCO – http://www.nipsco.com/about-us/integrated-resource-plan
Indiana Michigan Power – http://www.indianamichiganpower.com/info/projects/IntegratedResourcePlan/
Duke Energy Indiana – http://www.duke-energy.com/home/products/indiana-2015-irp-stakeholder-engagement
Indianapolis Power & Light Co. – http://www.iplpower.com/About_IPL/Regulatory/Filings/Integrated_Resource_Plan/
Vectren, A CenterPoint Energy Company – http://www.vectren.com/irp