To the editor:
The Indiana Legislature is trying to pull a fast one. The amended Senate Bill 510, relating to Leucadia’s plan to build a coal gasification plant in Rockport, does not include ample protection for Hoosier ratepayers.
Indiana University’s Kelley School of Business concluded that the state will incur heavy losses under the current deal — totaling $895 million over eight years. These losses will act like an excise tax, applied to customer’s bills.
Not only is coal gasification a money-loser, the resulting tax hike means Hoosier jobs are in jeopardy. The IU study estimates an annual loss of 1,800 jobs if the plant is built as planned. A so-called 30-year “guarantee” does little to protect Hoosiers from the resulting job losses or insulate them from higher gas bills.
Only the Indiana General Assembly can remedy the Leucadia tax and prevent ratepayers from paying higher utility bills for 30 years because of a money-losing deal.
Contact your legislator and ask them to amend Senate Bill 510 to require the Indiana Utility Regulatory Commission to guarantee real ratepayer savings.