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January 24, 2013

Top Indiana senator seeks gas plant contract review

INDIANAPOLIS — A top Indiana senator is calling for a review of Indiana’s plans to subsidize a proposed coal-gasification plant.

Senate President Pro Tem David Long Long said today that either the Indiana Utility Regulatory Commission or state lawmakers need to reconsider the state’s contract with Indiana Gasification LLC in light of low natural gas prices.

He says “the world has changed” since lawmakers approved plans to have the state sell the proposed Rockport plant’s synthetic gas at either a loss or profit to Indiana ratepayers.

Republican Sen. Doug Eckerty of Yorktown has introduced legislation that would restructure a 30-year contract agreed to between the Indiana Finance Authority and Indiana Gasification.

Opponents of the agreement say it would cost ratepayers $1 billion. Supporters say gas prices are more volatile than they appear.

 

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