« Ind. Decisions - Court of Appeals issues 3 today (and 5 NFP) | Main | Ind. Decisions - More on: Federal judge denies Joseph Corcoran’s request for relief in his 1999 death sentence »

Thursday, February 14, 2013

Ind. Gov't. - "Manufacturers, farm bureau oppose Rockport deal"

Eric Bradner writes for the Evansville Courier & Press:

Two heavyweight organizations in Hoosier politics – the Indiana Manufacturers Association and the Indiana Farm Bureau – say they oppose the state’s current 30-year contract with the Rockport coal-to-gas plant. * * *

Patrick Bennett, the Indiana Manufacturers Association’s vice president of environment, energy and infrastructure, said his organization is afraid its small and medium-sized clients will face higher prices as a result, although large industrial companies are excluded.

“Really, the message is going to be that it’s not the role of the state to subsidize the cash flow of a company or to attempt to hedge the commodity price. This project should stand on its own within the current economic development, like the state does with other companies,” Bennett told the Courier & Press.

He said he supports a bill [SB 510] by Sen. Doug Eckerty, R-Yorktown – the one that’s the topic of Thursday’s hearing – to beef up the ratepayer protections in the deal by requiring the plant’s developers, Leucadia National Corp., to reimburse those ratepayers every three years if the plant’s prices top open market rates.

That would be a departure from the current contract, which requires Leucadia to set aside $150 million that would only go to ratepayers at the end of the contract. Leucadia’s top Indiana official, former Gov. Mitch Daniels aide Mark Lubbers, said Eckerty’s bill would kill the plant.

IndyStar reporter Tim Evans writes on Twitter: "Update on bill to kill Rockport coal-gas plant: Senate utility chairman says there will be vote next week."

Posted by Marcia Oddi on February 14, 2013 12:25 PM
Posted to Indiana Government