The contract approved for the Indiana Gasification, LLC plant in Rockport, IN proposed by Leucadia has been the subject of many blog posts in recent months. The Indiana Supreme Court will hear oral arguments in this case Thursday, Sept. 5 beginning at 9:00 am EDT (local time) in Indianapolis. IN.
Click headline below to watch on-line:
Indiana Gas Company, Inc. v. Indiana Finance Authority
Case Summary
The Indiana Utility Regulatory Commission approved a contract between the Indiana Finance Authority and Indiana Gasification, LLC for the purchase of substitute natural gas. The Court of Appeals reversed, concluding the contract defines retail end use customer contrary to statutes authorizing the contract. Indiana Gas Co. v. Indiana Fin. Auth. , 977 N.E.2d 981 (Ind. Ct. App. 2012), vacated. The Supreme Court has granted petitions to transfer the case and has assumed jurisdiction over the appeal.
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Leucadia SNG Legislation was hotly debated during the 2013 session of the Indiana General Assembly and resulted in Final Passage of the Conference Committee Report for SB 494.
Substitute natural gas. Defines "2011 order", "business day", and "savings". Makes additional findings concerning substitute natural gas (SNG). Requires the Indiana finance authority to submit certain contracts and agreements to the utility regulatory commission (IURC) for approval. Specifies that if a certified appellate opinion does not affirm the 2011 order in its entirety, the IURC shall, after notice and hearing, approve, reject, or require the modification of a purchase contract if in the public interest. Specifies certain factors the IURC must consider before taking action. Requires the IURC to issue a final order within 180 business days. Provides that a party that seeks to appeal a final order shall do so through an expedited direct appeal to the Indiana supreme court under rules to be adopted by the Indiana supreme court. Authorizes the IURC to adopt rules, including rules establishing filing deadlines. Requires the IURC to study the sales price of natural gas and report the study results in an electronic format to the general assembly by November 30, 2013.