Citizens Energy gets interest-rate bargain on bonds sold for utility purchase
Stock-market swoon contributes to favorable terms on purchase of city’s water, sewer systems.
Citizens Energy Group
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Chamber names former utility leader as interim president
Past 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.
Citizens Energy Group pipelines pass internal review mandated by feds
Citizens has more than 120 miles of transmission pipe and hundreds of miles of gas service lines.
Citizens CEO making more than peers at bigger utilities
Citizens 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.
Settlement caps Citizens Energy customers’ deal fees
Ratepayers 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.
Citizens Energy agrees to document utility savings
A 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.
Fix-up list is long as Indianapolis prepares for 2012 Super Bowl
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
Group opposes city plan to pay water manager Veolia $29M
The 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.
Touted Build America Bonds may not be available for utility deal
Citizens Energy previously said not using the bonds would add about $100 million to the cost of the deal over 30 years.
Veolia losing water contract, will get $29M termination fee
Playing 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.
Heating bills should be cheaper this winter, utility says
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.
Smooth utility deal carries potential bonus for city
If 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.
Council advances utilities transfer proposal
City-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.
Key vote ahead for utilities transfer
A 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.
Business groups bless Mayor Ballard’s utility sale plan
Greater Indianapolis Chamber of Commerce and Builders Association of Greater Indianapolis support sale of water, sewer utilities.
Mayor unveils infrastructure-improvement plan details
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.
City approval of Citizens Energy deal could come in May
Citizens 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.
Ballard mimics Major Moves infrastructure-improvement plan
So 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.
City utility deal treads in murky waters
A $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.
Citizens says buying water, sewer systems won’t harm bond rating
Citizens 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.