Brought to you by WBIW News and Network Indiana
Last updated on Monday, July 16, 2012
(EDWARDSPORT) - The Indiana Utility Regulatory Commission will meet all week, starting today, to discuss a proposed agreement between Duke Energy, and Indiana Office of Utility Consumer Councilor, and others involved in the Edwardsport coal-gasification plant, and it’s massive cost overruns.
Lew Middleton with Duke Energy says this agreement up for debate this week is fair because it balances the need for the coal plant, and the need for power consumption.
But, Kerwin Olson with the Citizens Action Coalition says this isn't a good deal, "we oppose the settlement strongly we feel it's a bad deal for consumers, and we feel it's a bailout deal for Jim Rogers and the folks at Duke Energy, so we hope the commission rejects the settlement."
The proposed deal puts ratepayers on the hook for $3.25 billion dollars if the cost of the project continues to climb. That's compared to the initial estimate of $1.98 billion that was initially pitched to the IURC when the project faced initial approval.
The IURC commissioners are appointed by the Governor to act as a referee of sorts between consumer groups and utilities.
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