With utilities under pressure, shareholders unite

With utilities facing pressures, ranging from the threat of cap-and-trade legislation to a slow economy, a group has formed
to look out for their shareholders.

The Indiana Utility Shareholders Association aims to be the “collective
voice” of investors in four of the big utilities operating in Indiana: American Electric Power, Duke Energy, NiSource
and Vectren.

IUSA is headed by former state representative Tim Harris. His Marion-based organization touts 1,000
members and plans to work in the state and federal legislative arenas and with regulatory agencies such as the Indiana Utility
Regulatory Commission.

Currently, the primary non-government, non-utility intervenor before the IURC is Indianapolis-based
Citizens Action Coalition, which represents utility customers.

A brochure for IUSA shows a photo of an older
couple—appropriate because seniors often load up on utility stocks for their relatively stable dividend income.

Harris’ new group pledges to work to “protect and assure sufficient levels of return to retain and attract
needed investment in Indiana utilities.”

Citizens Action Coalition has long argued that the utility lobby
too often gets what it wants from regulators in Indiana.•

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