IURC News Release

Indiana Utility Regulatory Commission†††††† ††††††† ††††††††††††††† ††††††† ††

302 West Washington Street, Room 306††††††††††††††† ††††††††††††††† ††††††† ††

Indianapolis Indiana46204††††††† ††††††††††††††† ††††††††††††††† ††††††††††††††† ††

317.232.2297 office

317.233.1982 fax

www.state.in.us/iurc

 

Contact:Mary Beth Fisher

 

For Immediate Release

December 19, 2002

 

IURC APPROVES PSI/CINCAP TRANSFER

 

Today, the Indiana Utility Regulatory Commission gave Public Service Indiana (PSI), the authority to purchase the Madison and Henry County Generating stations, and CinCap authority to transfer the Henry County Generating station to PSI.

 

In Cause No. 42145, the majority of the Commissioners approved a settlement agreement reached by PSI, CinCap VII, Commission staff, and the Indiana Office of Utility Consumer Counselor.

The price the company will be able to recover from customers will be determined in PSIís next rate case.

 

The Commission previously determined that PSI has a need for peaking capacity, and that PSI adequately considered the statutory factors and its resource planning process was reasonable.

 

The Henry County plant began commercial operation in July 2001.It consists of three gas fired combustion turbine-generating units. The plant is directly interconnected to the Cinergy transmission system, and is located in Henry County, Indiana.

 

The Madison plant began commercial operations in 2000, and consists of eight gas fired combustion turbine-generating units.The plant is located in Butler County, Ohio.

Public Service Indiana provides electricity to over 700,000 customers located in 69 counties in the central, north central and southern parts of Indiana.

 

 

###