NIPSCO wants to buy pair of gas power plants
#1 Dec 25, 2007
In other words, NIPSCO wants to buy a failed investment from itself and pass the loss on to the ratepayers. A whole bunch of these gas-fired power plants were built in the a-go-go Enron era. These merchant plants turned out to be a horrible idea when the price of natural gas shot up, so most of them go unused. Now power companies are trying to get reimbursed for them by retail customers. who didn't need the electricity from them in the first place. And with the IURC in the back pocket of utility execs, the greedy fat cats at NIPSCO will get their way. And they will continue to get their multi-million dollar bonuses for screwing the little guy.
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