The Indiana Utility Regulatory Commission approved a settlement increasing Indianapolis Power & Light’s annual revenues by about $43.9 million, resulting in a $5.18 hike in monthly residential bills, according the agency’s Oct. 31 press release. In February, the utility lowered its revenue request to $96.7 million from its initial request of $124.5 to account for savings from the federal tax cut law that slashed the corporate income tax to 21 percent from 35 percent, effective Jan. 1. Under the settlement, the utility will provide $14.3 million in credits over two years to reflect the tax cut impacts, in addition to the $9.5 million previously approved by the commission in a tax investigation case. Indianapolis Power & Light is a unit of AES Corporation.