Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Scott Pruitt, Former Administrator of the EPA to Defend Indiana Rate Payers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2019 | 07:57pm EDT

DENVER, April 20, 2019 /PRNewswire/ -- (Nasdaq: HNRG) - Scott Pruitt, former Administrator of the EPA has registered on behalf of Rail Point Solutions LLC, a subsidiary of Hallador Energy Company, as a lobbyist to attempt to protect the ratepayers of Indiana from Vectren and NIPSCO rate increases.  Both of these Indiana utilities are proposing policies that will increase their customers' electricity bills.  The Indiana Utility Regulatory Commission (IURC) ultimately will decide the outcome of these policies, but Vectren and NIPSCO are arguing that the IURC should close plants based on Obama era rules that Trump and his EPA are in the process of unwinding.  Their argument is that no one knows what the new rules will look like so we should hurry and make permanent decisions today.  Who better than Scott Pruitt to aid the Indiana legislature on what Trump energy policy will look like?

If the IURC rules in Vectren and NIPSCO's favor, both utilities will likely receive accelerated payments on the plants they are closing plus a guaranteed return on their investment in new plants.  Such a ruling would bring great profits to the utilities' shareholders at the expense of their customers.  In Vectren's case, a study shows that the average Vectren customer's rates will increase by 27%, if their project stays on budget.

In the last 10 years, Indiana coal consumption has declined by 26%, at the same time Indiana electricity rates have increased by 26%.  Is there a correlation?  At the same time, Indiana has slipped from the 6th most competitive state based on electricity rates to 30th.  Will this affect job creation?

Ultimately, Governor Holcomb is not allowed to instruct the IURC on energy policy, it is up to the Indiana legislature to create an energy plan for the IURC to follow.  We are asking the legislature to add two sentences to the budget bill that prevent the IURC from making decisions based on rules that the EPA is currently reconsidering, and in some instances has already reversed.  We are asking the Indiana legislature to act and prevent rates from increasing unnecessarily.  A failure to act will most assuredly lead to higher rates on Indiana consumers and businesses.  We are reaching out to our friends in the Indiana Chamber of Commerce and Indiana Manufacturer Association to ask them to help us in this effort. 

HALLADOR LOGO (PRNewsfoto/Hallador Energy)

 

Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/scott-pruitt-former-administrator-of-the-epa-to-defend-indiana-rate-payers-300835388.html

SOURCE Hallador Energy Company


© PRNewswire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
09:52pZTE : releases the industry's first 5G NB-IoT-based shared home appliances standard
PU
09:52pTYSON FOODS : Donates Nearly 700,000 Meals for Hunger Relief in Arkansas
PU
09:47pRESTAURANT BRANDS NEW ZEALAND : Strong Sales Growth Continues in the Second Quarter
PU
09:45pCORRECTION FROM SOURCE : BiocurePharm, Korea ("BPK") Announces Closing of Convertible Debenture Financing
NE
09:42pCENTRAL BANK SURVEY OF FOREIGN EXCHANGE AND DERIVATIVES MARKET ACTIVITY IN APRIL 2019 : Turnover Data, Japan
PU
09:42pBRF S A : Announcement to the Market – Pricing Bonds
PU
09:42pBMG RESOURCES : Drilling Update at Salar West, Chile
PU
09:32pMMA OFFSHORE : 20 September 2019 2019 Annual Report
PU
09:27pCAPCOM LAUNCHES NEW IP SHINSEKAI : Into the Depths on Apple's New Apple Arcade Game Service on the App Store - Creative title to be available at launch of Apple Arcade -
PU
09:27pFAR EAST CONSORTIUM INTERNATIONAL : Notice of cancellation of original share certificate and issue of new certificate
PU
Latest news "Companies"