Citizens Energy Group
Purchase of city water utility lifts Citizens Energy's profits
April 7, 2012
Chris O'MalleyThe $1.9 billion sale of the city’s water and sewer utilities was a profit gusher last year for buyer Citizens Energy
Group—at least on paper. Dwarfing the returns of its gas, thermal and other divisions, the newly renamed Citizens Water
turned a profit of $53.4 million.
MoreCitizens not ready to get behind historic designation for Central Canal
April 7, 2012
Chris O'MalleyPreservationists want protections for the historic waterway, but the utility that just bought it is afraid National Register
status will cause unintended consequences.
MoreCitizens Energy projects bigger savings from deal
March 3, 2012
Cost-savings tied to the purchase of the city's water and sewer utilities are also expected to be realized sooner than predicted.
MoreProLiance might go on block
January 14, 2012
Chris O'MalleyIndianapolis-based ProLiance, a natural-gas marketer and supplier, was singed by a $57.2 million pretax loss in the first
nine months of 2011, causing some analysts to wonder if majority owner Vectren Corp. will try to sell its 61-percent stake
in the company.
MoreCitizens to convert downtown steam plant from coal to gas
November 16, 2011
IBJ StaffCitizens Energy Group plans to switch the primary power source for its Perry K Steam Plant in downtown Indianapolis from coal
to natural gas, the utility announced Wednesday. The conversion will cost about $9 million.
MoreCitizens Energy gets interest-rate bargain on bonds sold for utility purchase
August 27, 2011
IBJ StaffStock-market swoon contributes to favorable terms on purchase of city's water, sewer systems.
MoreCitizens Energy Group pipelines pass internal review mandated by feds
April 30, 2011
IBJ StaffCitizens has more than 120 miles of transmission pipe and hundreds of miles of gas service lines.
MoreChamber names former utility leader as interim president
April 29, 2011
IBJ StaffPast board chairman David N. Griffiths will fill in for Roland Dorson, who resigned as president of the Greater Indianapolis
Chamber of Commerce last week in the wake of a dispute with board leaders.
MoreCitizens CEO making more than peers at bigger utilities
April 23, 2011
Chris O'MalleyCitizens Energy Group CEO Carey Lykins' 2010 pay package, salary and bonus, totaled $1.6 million, more than his counterparts
at the three largest municipal gas utilities in the country.
MoreSettlement caps Citizens Energy customers' deal fees
April 23, 2011
Chris O'MalleyRatepayers would pay no more than $14 million to cover charges associated with Citizens' purchase of Indianapolis water and
sewer utilities. Some say the capped amount is too much.
MoreCitizens Energy agrees to document utility savings
April 13, 2011
Associated PressA not-for-profit public trust that wants to buy Indianapolis' water and sewer utilities has agreed to document all of
the savings it says the $1.9 billion deal would create. State regulators still must approve the transaction.
MoreFix-up list is long as Indianapolis prepares for 2012 Super Bowl
January 29, 2011
Chris O'MalleyPlenty of opportunities await city officials bent on making downtown shine for the massive event.
MoreGroup opposes city plan to pay water manager Veolia $29M
December 20, 2010
Chris O'MalleyThe city should refuse to pay the contract-termination fee given alleged defaults by Veolia, the consumer group says. Veolia
is out after city sells the water company to Citizens Energy Group.
MoreTouted Build America Bonds may not be available for utility deal
December 4, 2010
Chris O'MalleyCitizens Energy previously said not using the bonds would add about $100 million to the cost of the deal over 30 years.
MoreVeolia losing water contract, will get $29M termination fee
October 28, 2010
Chris O'MalleyPlaying a limited role under Indianapolis Water's new owner, Citizens Energy, wouldn't be profitable, Veolia says.
Citizens plans to make job offers to "substantially all" Veolia employees.
MoreHeating bills should be cheaper this winter, utility says
October 13, 2010
Citizens Energy Group projects that the gas bill of its average residential customer will decline about 7 percent over the
winter heating season. The utility said a customer who uses the typical amount of natural gas will spend $580, down from $620
last season.
MoreSmooth utility deal carries potential bonus for city
August 21, 2010
Chris O'MalleyIf Citizens Energy can successfully manage and mitigate over the next two years the city's lingering legal and contractual
obligations involving the water and sewer utilities Citizens is negotiating to buy, the city can hang onto an extra $25 million
in the deal.
MoreCouncil advances utilities transfer proposal
July 27, 2010
IBJ Staff and Associated PressCity-County Council members voted 19-10 Monday night to approve Republican Mayor Greg Ballard’s $1.9 billion plan to
transfer Indianapolis’ water and sewer utilities to Citizens Energy Group.
MoreKey vote ahead for utilities transfer
July 26, 2010
IBJ StaffA plan to transfer the city's water and sewer utilities to Citizens Energy Group faces a key vote Monday night at a meeting
of the City-County Council.
MoreBusiness groups bless Mayor Ballard's utility sale plan
May 22, 2010
IBJ StaffGreater Indianapolis Chamber of Commerce and Builders Association of Greater Indianapolis support sale of water, sewer utilities.
MoreMayor unveils infrastructure-improvement plan details
May 11, 2010
City would use $425 million expected from selling the city's water and sewer utilities to Citizens Energy Group to upgrade
city streets, sidewalks and bridges.
MoreCity approval of Citizens Energy deal could come in May
April 10, 2010
IBJ StaffCitizens Energy should have completed the majority of its due diligence of the city’s water and sewer utilities, which
it plans to acquire, by the end of this month.
MoreBallard mimics Major Moves infrastructure-improvement plan
April 3, 2010
Peter SchnitzlerSo far, in discussing his plan to sell the city's water and sewer utilities, Mayor Greg Ballard has
emphasized the impact on utility rates, the $1.5 billion in city debt Citizens would assume, and the chance
to improve streets and sidewalks. But Ballard also has another key objective: business attraction and
expansion.
MoreCity utility deal treads in murky waters
April 3, 2010
Chris O'MalleyA $1.9 billion proposal to sell the city’s water and sewer utilities splashed into public view last month, but some
financial details settling at the bottom line could make the deal harder to swallow.
MoreCitizens says buying water, sewer systems won't harm bond rating
March 13, 2010
Chris O'MalleyCitizens Energy Group's plan to buy the city's water and sewer systems will require the utility to raise $262 million in new
bond debt and inherit $1.5 billion in debt. Yet Citizens executives maintain the financial load should not impair the bond
ratings of its principal utilities, Citizens Gas and Citizens Thermal.
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graham. they are even better w/ roasted marshmallows and melted chocolate
Apparently ticket sales are slow too...mas emails have been sent by the speedway in a last ditch attempt to get place fans to come.
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Doc, a few important errors in your statements:
(1) The developer is spending the CITY'S money (the city is paying for the cost of the garage), so the city can damn well insist on a quality design.
(2) The LAW requires the proposed building to comply with design standards, and insisting that people follow the law is not giving anyone the "run-around."
(3) A two-week delay to make some minimal aesthetic improvements is hardly a great imposition being imposed on the developer.
(4) If the developer would rather build a crappy building elsewhere with their own money, then they are welcome to pick up and do so.
(4) Indianapolis is a major city, not some podunk town that needs to spread its legs for any developer that throws the place a sideways glance. Indianapolis should insist on the best, not settle for junk. Accepting anything is not going to make Indianapolis grow any faster (not sure where you got that silly notion from), nor is Indianapolis a slow-growth city compared to similarly sized city's in the Midwest.
Alone. Or with cheese.