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IPL presents $23.5 million capital plan for 2025–26; staff point to multi-year transformer and substation projects
Summary
Power & Light staff outlined a roughly $23.5 million capital plan for 2025–26, with two large items — Northpointe-related projects ($6.5M) and replacement of 400 MVA substation transformers ($8.5M) — elevating the year above a typical $8–10M spend.
Power & Light staff briefed the Public Utility Advisory Board on March 20 about capital projects proposed for fiscal year 2025–26 and provided a brief finance update, including a personnel introduction to the new utility finance manager.
Staff said the total next‑year capital program is about $23.5 million but noted two large projects drive the elevated total: Substation/T&D work tied to the Northpointe development (about $6.5 million) and replacement of 400 MVA substation transformers (about $8.5 million). “If you take out the subvest stuff, which is $6,500,000 and…
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