The company will spend $15 million to overhaul its underground network protectors, one of which led to a downtown power outage in August.
The winter storm has left thousands without power around the state, but the number of outages is dropping.
More than 15,000 Hoosiers are without power after heavy snowfall and subzero temperatures hit the state.
Close to 11,000 Indiana residents lost power during severe weather Thursday night, including wind guests over 70 mph and tornado watches.
Due to extensive power outages across south-central Indiana, the Red Cross has opened several emergency relief shelters.