The Indiana Utility Regulatory Commission denied Indiana Power and Light's $12.3 million cost recovery request that would've resulted in a slight rate hike for power customers.
The hike would've helped pay for the installation of charging stations and kiosks for the BlueIndy project, Indianapolis's electric car sharing program.
The Commission did approve about $3 million for distribution system upgrades.
IPL Spokesperson Brandi Davis-Handy says they'll get together with the city and BlueIndy and figure out their next possible course of action.
BlueIndy has said that the success of the program depended in part on outside funding sources.
Indiana State Rep. Cherrish Pryor, D-Indianapolis, applauds the decision.
"It really reaffirms what the people have been saying all along, that it's taxation without representation, and that ratepayers should not be put on the line to pay for private enterprise," Pryor says.
IURC Spokesperson Chetrice Mosley says IPL has 20 days to appeal the commission's decision.