AES Indiana, the largest electric investor-owned utility in the state, has agreed to be purchased by a group of investors, including a subsidiary of BlackRock, if it goes through. The sale will not result in utility rate increases for the 500,000 Indianapolis-area residents, pending a settlement between AES and the city of Indianapolis. The company's president, Brandi Davis-Handy, stated that no cost related to the transaction will be recovered from ratepayers. The Indiana Utility Regulatory Commission held a hearing to discuss the state's five largest electric utilities, AES, CenterPoint Energy, Duke Energy, Indiana Michigan Power Company and NIPSCO, aimed at finding solutions to high energy costs. The commission also requested a series of public listening sessions, with additional sessions scheduled statewide.