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Tuesday, November 22, 2011

Ind. Gov't. - "Gasification plant gets green light, NIPSCO rates could go up"

That headline is from a brief story posted on the NWI Times website by reporter Keith Benman:

State regulators Tuesday approved construction of a coal gasification plant and a 30-year contract for a state agency to purchase its output, a move that could raise utility bills for NIPSCO and other utility customers across the state.

Leucadia Corp., a publicly traded New York-based investment firm, plans to build the $2.65 billion plant in Rockport, Ind. The Indiana Finance Authority will buy most of the synthetic natural gas the plant produces and then sell it to the state's utility companies.

Those utilities in turn will charge their customers for any difference in price between the synthetic natural gas produced by the plant and prices on the open market. There also are provisions to return some of the profits to utility customers if the synthetic natural gas costs less than gas on the open market.

Here are some quotes from a much longer story by the same reporter written May 1, 2011.

From the other end of the state, Eric Bradner of the Evansville Courier & Press had this detailed April 22nd story.

John Russell of the Indianapolis Star posted a story on the IndyStar site at midday; it concludes:

The Indiana Utility Regulatory Commission approved the contract this morning between the plant's owner and the Indiana Finance Authority, and issued a certificate of public convenience and necessity for the construction.
ILB: No details provided on the vote.

Posted by Marcia Oddi on November 22, 2011 03:15 PM
Posted to Indiana Government