Duke Energy Corp. said first-quarter profit fell 42 percent after a regulatory settlement in Indiana increased costs and mild weather reduced heating demand.
Duke Energy Corp. has agreed to cap the cost of its troubled coal-gasification plant in southwestern Indiana at $2.6 billion, or about $700 million less than the expected cost of construction, as part of a proposed settlement announced Monday.
Citizens Energy Group says savings from combining the city’s water and sewer utilities will be 13 percent higher than expected and come two years sooner than previously predicted.
David Lott Hardy, who was fired from his job as chairman of the Indiana Utility Regulatory Commission in 2010, is accused of official misconduct.
Indiana regulators have approved plans for a $2.65 billion coal gasification plant at the Ohio River city of Rockport and a state agency's 30-year contract to buy its synthetic natural gas.
Citizens 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.
Utility officials waited seven months to act on hazardous water concerns during construction of its costly Edwardsport plant and banked on winning an exemption, which the EPA later denied.
“Gross mismanagement” and improper communications with ex-regulatory chairman are among evidence in testimony to make Duke, rather than ratepayers, swallow major cost overruns at Edwardsport power plant.
State regulators on Wednesday approved a proposal to transfer control of Indianapolis’ water and sewer utilities to a local not-for-profit trust. The $1.9 billion sale will put management of the utilities into the hands of Citizens Energy Group.
The Indiana Office of Utility Consumer Counselor has filed a blistering rebuke of Duke Energy Corp. for the high cost of its Edwardsport coal-gasification plant and has asked regulators to deny Duke’s request to charge ratepayers $530 million for cost overruns.
Former Indiana Utility Regulatory Commission chief David Hardy and the state's then-finance director, Jennifer Alvey, improperly discussed the merits of a $6.9 billion contract the Indiana Finance Authority ultimately struck with operators of the Indiana Gasification plant proposed for Rockport, plant opponents alleged Monday.
The price to get big industrial firms like Eli Lilly and Co., National Starch and Rolls-Royce Corp. to support the sale of the city’s water and sewer utilities to Citizens Energy Group is at least $1.5 million.
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.
Former Indiana Utility Regulatory Commission counsel Scott Storms spoke out for the first time publicly on ethics charges brought against him, denying allegations that there was a conflict of interest in how he handled cases involving Duke Energy.