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Court reverses natural gas deal
Updated: Tuesday, 30 Oct 2012, 4:09 PM EDT
Published : Tuesday, 30 Oct 2012, 4:09 PM EDT
INDIANAPOLIS (AP) - The Indiana Finance Authority and Indiana Gasification LLC say they'll redo their 30-year deal to sell synthetic natural gas to Indiana utility customers after the Indiana Court of Appeals reversed regulators' approval of the deal.
The court ruled Tuesday that the deal should not include certain industrial customers, so the Finance Authority and Indiana Gasification must amend the contract and seek new approval by the Indiana Utility Regulatory Commission.
Finance Authority attorney Andrew Kienle says it hopes to get a new deal done by the end of the year. Indiana Gasification spokesman Mike Murphy says the company believes the ruling clears the way for its proposed coal-gasification plant in Rockport.
Consumer attorney Jerry Polk predicts more fighting over the deal. His clients oppose the deal.
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