(Richmond, IN)--There’s some good news for customers of Richmond Power and Light. At Monday night’s board meeting, General Manager Randy Baker announced that rates are dropping for the next three months. It’s because of an Energy Cost Adjustment and a drop in the cost of energy over the last two quarters. "When our wholesaler, IMPA, drops our rates, we pass those decreases on to the consumer," Baker said. Residential customers are in line for a 4 ½% rate drop. It will be around 5% for industrial customers.