The infrastructure work will upgrade the gas utility’s network across much of central Indiana.
The credit rating service has stuck with a “stable” outlook for Citizens’ ability to repay its debts. But an Oct. 3 report cites concerns across all the operations at the Indianapolis-based utility.
The Indiana Utility Regulatory Commission says Northern Indiana Public Service Co., Vectren and Citizens Gas didn't follow procedures and keep accurate pipeline records.
Citizens Energy Group is leading the opposition to a gas station planned for 146th Street and River Road on the edge of Carmel, saying it is too close to a major source of central Indiana’s drinking water.
Citizens Energy Group has enjoyed a certain amount of public good will over the last 125 years as a not-for-profit, charitable trust. But rising incentive pay to the trust’s top brass recently has conjured up images of an investor-owned utility—and the scrutiny of regulators.
The Deep Rock Tunnel is the largest public-works project in the city’s history, and Citizens customers are already paying for the first phase, which cost $444 million.
About 200 downtown business and industrial customers would pay an average of 12.9 percent more for steam services under a rate-increase proposal by Citizens Energy Group.
The biggest contributor to an $11.8 million loss in 2012 was the wastewater unit it bought from the city the year before.
Citizens Energy Group’s multistate transportation and industrial fueling subsidiary would market the gas as an alternative vehicle fuel.
Indianapolis Deputy Code Enforcement Director Adam Collins said 80 homes were damaged in the Richmond Hill neighborhood, including 31 houses that might need to be demolished. He estimated the damage at $3.6 million.
The $91 million water and sewer deal is expected to improve water distribution between northeast and northwest suburbs.
The $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.
Preservationists want protections for the historic waterway, but the utility that just bought it is afraid National Register status will cause unintended consequences.