What Richmond Power and Light does

Richmond Power and Light (RP&L) is a municipally owned electric utility founded in 1902 and operated by the City of Richmond, Indiana under Indiana Code 8-1.5 et seq. It distributes electricity to residential, commercial, and industrial customers across the Richmond and Wayne County service area through owned physical infrastructure (power lines, substations, meters) and a small set of in-person and digital service channels including a Customer Service Office at 44 South 8th Street, the SmartHub mobile/web application, and an Outage Management web map. The utility is governed by a 9-member elected Utility Service Board and exited Indiana Utility Regulatory Commission jurisdiction in 2022 via referendum while retaining an internal five-year rate-study mandate.

RP&L does not own generation outright; instead, it sources wholesale power from the Indiana Municipal Power Agency (IMPA), which operates eight local Richmond solar parks generating approximately 40 MW combined, plus IMPA's first Battery Energy Storage System at the Richmond 6 Solar Park (6.0 MW output, 24 MWh storage). Beyond energy delivery, RP&L offers specialized industrial services — infrared thermal imaging, ultrasonic air-leak detection, the trademarked Power Partners team-based advisory program, and engineering services — alongside residential programs such as net metering (for solar systems up to 10 kW), a Green Power Program ($0.006/kWh adder administered through IMPA), Budget Billing, direct-debit, and a payment-extension option. Reliability performance was externally validated in 2026 by an American Public Power Association Certificate of Excellence recognizing RP&L's placement above the 5-year top-quartile benchmark for U.S. electric utilities.

Revenue is generated primarily through recurring, usage-based electricity sales split across residential, commercial, and industrial rate classes, supplemented by fixed facilities charges ($1.47/year scheduled increases 2027–2029), a quarterly Energy Cost Adjustment rider, and two forthcoming riders: a Federal Regulatory Expenses rider effective after October 1, 2026 to fund ~$30 million of federally mandated coal-ash remediation, and a General Fund Transfer rider effective after January 1, 2027 to remit funds to the city. Multi-year rate increases of 1.62% (Q4 2026), 3.51% (1/1/2027), 1.46% (2028), and 1.50% (2029) on a current residential rate of $0.11424/kWh, alongside commercial and industrial increases averaging ~2.3% per year, represent the utility's primary revenue-growth lever.

Name

Richmond Power and Light

Legal name

Richmond Power and Light

Website

https://rp-l.com

Company type

Private

Founded year

1902

Operating status

Operating

Short description

Richmond Power and Light is a municipally owned electric utility founded in 1902 in Richmond, Indiana, distributing electricity to residential, commercial, and industrial customers across Wayne County through IMPA-supplied wholesale power, eight local solar parks, and a battery energy storage system.

Ownership category

akta.pro rank

Product category

Electric Utility Distribution

NAICS

Electric Power Transmission, Control, and Distribution (22112), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Municipal Electric Utilities (Munis) (EUADABAB)

Keywords

• Municipal electric utility
• Electric power distribution
• Renewable energy services
• Residential electricity supply
• Industrial power services

Headquarters

HQ city

Richmond

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain, Others

Revenue model

1. Electricity Sales - Residential: Residential electricity sales with various rate schedules including basic energy charges and facilities charges. Customers can opt for budget billing to evenly distribute seasonal heating/cooling costs.
2. Electricity Sales - Commercial: Commercial electricity sales with demand-based pricing, power factor adjustments, and facilities charges. Rate complexity includes factors such as demand, power quality, and facilities charges.
3. Electricity Sales - Industrial: Industrial electricity sales with comprehensive engineering support, thermography services, ultrasonic detection, and power quality monitoring. Includes specialized programs like Power Partners for energy solutions.
4. Facilities Charges: Fixed facilities charges applied to customer bills, with increases of $1.47 each year planned for 2027-2029.
5. Energy Cost Adjustment (ECA): Quarterly wholesale energy cost adjustment that can be either a charge or credit depending on energy costs.
6. Federal Regulatory Expenses (FER): Rider to recover expenses for mandatory federal regulatory expenses, specifically the coal ash remediation project. Effective after October 1, 2026.
7. General Fund Transfer (GFT): Rider to recover expenses for required transfers to the city's general fund as a municipally owned utility. Effective after January 1, 2027.
8. Green Power Program: Voluntary program enabling customers to support renewable energy at $0.006 per kWh additional charge. Minimum one-year commitment required.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Richmond Power and Light is a municipally owned electric utility that distributes electricity to residential, commercial, and industrial customers in Richmond, Indiana and Wayne County, supplemented by renewable energy assets (eight solar parks producing approximately 40 MW and a Battery Energy Storage System), billing and self-service tools (SmartHub mobile app, Outage Management System, budget billing, direct deposit), and specialized industrial services including Power Partners, infrared/ultrasonic diagnostics, engineering services, and power quality monitoring.

Product overview

Richmond Power and Light (RP&L) is a municipally owned electric utility offering a portfolio of electricity generation, distribution, and customer-facing digital services. The core offering is electricity delivery across residential, commercial, and industrial customer segments, supplemented by renewable energy assets (8 Richmond Solar Parks producing ~40 MW, plus a Battery Energy Storage System), demand-side management tools (Net Metering, Green Power Program, IMPA Energy Calculators), and digital customer engagement via the SmartHub mobile/web application. RP&L also provides specialized industrial services including Infrared/Ultrasonic inspection, Power Partners advisory, and Engineering Services. Billing flexibility products include Budget Billing, Direct Deposit, and Payment Extension. All renewable energy programs are administered in partnership with the Indiana Municipal Power Agency (IMPA), RP&L's wholesale energy provider.

Differentiator

Problem solved

Functional benefit

Brands

• Power Partners: A trademarked program designed by Richmond Power & Light to assist customers with specific energy solutions through a team approach commitment.
• SmartHub

Products and services

• SmartHub Mobile and Web Application Mobile and web application enabling RP&L customers to pay electric bills, review account information, report outages, and sign up for outage notifications 24x7 from iOS, Android, or web devices.
• Net Metering Program for residential and commercial customers with customer-sited solar systems up to 10 KW inverter rating that uses a bi-directional meter to measure both consumption and grid export, billing customers only for net energy use and banking excess kilowatt-hours for future billing periods.
• Richmond Solar Parks (1-8)

Quantifiable outcome

• Significantly exceeded the 5-year average of the top quartile for all U.S. electric utilities for reliable electric service
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Indiana Municipal Electric Mutual Aid ProgramminorStrategic or Co-development Partner · 5 January 2025Four RP&L linemen responded to assist the City of Henderson, Kentucky following an ice storm through the mutual aid program, exemplifying 'neighbor helping neighbor' spirit.
• Indiana Municipal Power Agency (IMPA)coreStrategic or Co-development PartnerIMPA is RP&L's wholesale energy provider and owns/operates 8 solar parks in Richmond producing approximately 40 MW of electricity. IMPA also recently opened the first Battery Energy Storage System (BESS) at Richmond 6 Solar Park with 6.0 MW output and 24 MWh storage capacity. IMPA provides energy calculators and energy efficiency resources for customers.
• American Public Power Association (APPA)minorOthersRP&L participates in APPA's PowerTRX Reliability service to track power outages and restoration against national benchmarks. This participation led to the 2026 Certificate of Excellence award.
• Tennessee Valley Public Power Association (TVPPA)minorOthersRP&L lineworkers complete the TVPPA Apprenticeship program, providing professional development and certification for utility workers.
• Economic Development Corporation of Wayne CountycoreStrategic or Co-development PartnerPartnership for marketing the Richmond area, positioning the community for economic growth, assisting with expansion and retention of existing industry, and attracting new business. Located at P.O. Box 1919, Richmond, IN 47375, (765) 983-4769.
• Interlocal Community Action ProgramminorOthersPayment assistance partner agency located at 50 S 2nd Street, phone 765-488-2416, assisting households with heating costs during winter months.
• Wayne Township Trustees OfficeminorOthersPayment assistance partner at County Administration Building, 401 E Main Street, phone 765-973-9392, providing assistance programs for customers who struggle paying utility bills.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Henderson Municipal Power & Light: Municipal electric utility serving Henderson, Kentucky at a similar small-municipal scale to RP&L; directly comparable community-owned utility model with whom RP&L has an active mutual aid partnership, including a recent joint response to ice storm recovery.
• Nashville Electric Service (NES): Municipal electric utility serving Nashville, Tennessee; closely comparable community-owned utility model with similar residential/commercial/industrial customer mix, though operating at larger metropolitan scale than RP&L.

Others

• Hoosier Energy: Generation and transmission cooperative providing wholesale electric power to rural electric distribution cooperatives across Indiana and Illinois; comparable to IMPA in its enabling wholesale role, but serves cooperative rather than municipal utility members.
• Wabash Valley Power Alliance: Generation and transmission cooperative providing wholesale power to electric distribution cooperatives in Indiana and Illinois; similar enabling ecosystem role to IMPA but serving cooperative member-owners rather than municipal utilities.
• Indiana Municipal Power Agency (IMPA): RP&L's wholesale power provider and joint owner/operator of the 8 Richmond Solar Parks (~40 MW combined) and the Battery Energy Storage System at Richmond 6; functions as a critical enabling ecosystem participant for RP&L's generation supply rather than a direct retail competitor.

Broad incumbents

• Duke Energy Indiana: Large investor-owned electric utility regulated by the IURC, serving customers across central and southern Indiana; directly competes with RP&L for industrial customers in overlapping Indiana territory but operates under a fundamentally different regulated IOU business model.
• Indiana Michigan Power (AEP): American Electric Power (AEP) subsidiary providing regulated electric distribution and generation across Indiana and Michigan; major investor-owned utility competing with RP&L for industrial and commercial load in the Indiana market.
• AES Indiana: Large investor-owned electric utility (formerly Indianapolis Power & Light) serving the Indianapolis metropolitan area; competes with RP&L for commercial and industrial customers across Indiana under a different IOU ownership and rate-regulation model.

Regional players

• JEA (Jacksonville Electric Authority): Community-owned municipal utility providing electric, water, and sewer services to Jacksonville, Florida; comparable municipal utility ownership and operating model but operates at substantially larger metropolitan scale and in a different regulatory/geographic context.
• SMUD (Sacramento Municipal Utility District): Not-for-profit community-owned municipal electric utility serving Sacramento, California; shares RP&L's municipal utility business model and customer-ownership ethos but operates at much larger scale with a vertically integrated generation, transmission, and distribution portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/richmondpower
• Facebookfacebook.com/richmondpowerandlight
• LinkedInlinkedin.com/company/richmond-power-and-light

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Richmond Power and Light