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Didn’t Duke just get a rate increase? So the previous increase did not include this increase so they could ask for an additional increase? WOW!
That’s exactly the Duke game. And knowing their track record for their boondoggle coal gasification plant (original supposed construction cost of $1.9 billion that after their supposed final completion construction cost of $3.5 billion, thereabout), us ratepayers should be expecting this new project to be another cost overrun nightmare. I don’t believe a word they say.regarding a $3.3 billion project. And remember, Duke bought out the former Indiana-based utility, Public Service of Indiana, likely to bail PSI out from the debt racked up from another boondoggle project called Marble Hill Nuclear Plant. It got to reaching 50% complete, after numerous cost overruns from the original cost publicized and no end in sight of ongoing overages, that PSI abandoned the project. Trouble is, no one knows how to estimate the expected construction costs from the beginning. Then the game begins, “well, I guess we’ll need to approve this change order” for big bucks and they continue the change order game until the project has gotten so far along that it couldn’t possibly be abandoned, “we have to stay the course and finish the project. Same smell as in another IBJ article about the Signia Hotel in Indianapolis presently under construction and the need for $70 million nor dollars…….what a crock. But, no problem there……The Capital Improvement Board has an endless supply of tax dollars from Indianapolis restaurant goers and the “hot-dog” taxes collected. A bit of a difference for this new Duke project, but the same game. No problem no matter what or how high the construction costs balloon, the rate payers will get screwed from mismanagement of construction costs. Same exact thing has been taking place in the Savannah, Georgia area and Georgia Power’s Vogtle Nuclear plant. Another boondoggle. Suck it up ratepayers…..Bullshirt (you know the more common spelling of the word).
PSI merged with Cincinnati Gas and Electric to form Cinergy. Later, Cinergy merged with Duke and the Cinergy CEO took over as CEO of Duke Energy. The previous description by Patrick was not correct. And maybe Patrick should go to Duke to manage their projects since he would be able to control all of the factors that effect the development of multi-year, billion dollar projects with no surprises or changes due to changes in the economy or factors unknown at the time of the start of development.
THIS is what it’s going to cost to keep adding data centers in Indiana.
Compared to most surrounding states, the IURC is just a rubber stamp for anything a utility wants.
EXACTLY !!!!! As I stated above to Thomas H., bring on the change orders because Duke couldn’t possibly control construction costs from the start. “Hold the design engineers and the constructors accountable” you say? Ha, that’s rich!!!!!!!!!! IURC exists to control the monopolies. That too is a lost cause. Rubber stamp IURC is, couldn’t agree more.