Gasification Plant Could Be Ordered to Give Refunds to Customers
By: Michael C. Fehn
Updated: January 16, 2013
A new Indiana Senate bill may force the company building a gasification plant in Rockport to pay money back to consumers.
The bill addresses concerns by consumer groups, and others, over a 2010 law, backing the 2-point-8 billion dollar plant.
It would allow Indiana regulators to order refunds to gas customers every three years, if the synthetic gas costs more than the market price of natural gas over the period.
The Indiana Gasification Finance Authority deal would leave utility customers on the hook to pay the difference if the synthetic gas costs more than the spot market price.
The bill addresses concerns by consumer groups, and others, over a 2010 law, backing the 2-point-8 billion dollar plant.
It would allow Indiana regulators to order refunds to gas customers every three years, if the synthetic gas costs more than the market price of natural gas over the period.
The Indiana Gasification Finance Authority deal would leave utility customers on the hook to pay the difference if the synthetic gas costs more than the spot market price.
