IURC News Release

Indiana Utility Regulatory Commission                                                         

302 West Washington Street, Room 306                                                                        

Indianapolis Indiana 46204                                                                                              

317.232.2297 office

317.233.1982 fax



Contact:  Mary Beth Fisher


For Immediate Release                                                                                   

February 6, 2002




Today, in Cause No. 42063, the Commissioners determined it is in the public interest to grant the Indiana Municipal Power Agency (IMPA) the authority to issue bonds to refinance an old debt at a lower price, and to cover the costs of projects to benefit Hoosiers.


The Anderson Combustion Turbine (“CT”) Expansion Project involves the addition of one or more combustion turbines and associated facilities to IMPA’s existing Anderson Station in Anderson, Indiana.  Specifically, IMPA proposes to add between 80 and 120 MW of capacity by constructing one or more additional dual fueled (oil and natural gas) combustion turbines, together with associated equipment. 


In the Selective Catalytic Reduction System ("SCR") project, IMPA will use the financing to pay for and reimburse to Cinergy/PSI the portion of the capital additions and improvements related to the SCR for which IMPA is responsible as a co-owner of Gibson Unit #5, and Trimble County, Unit #1.


IMPA owns certain transmission and related facilities operated as part of a Joint Transmission System (“JTS”) that also includes transmission and related facilities owned by Cinergy/PSI and Wabash Valley Power Association, Inc.  Each owner of the JTS is obligated to make capital investments generally proportional to the load it serves from the JTS. 


IMPA has been given the authority to issue nearly $98-million in bonds.  The Indiana Municipal Power Agency will provide the Commission and the Office of Indiana Utility Consumer Counselor with a financing report, which shows the amount of the bond issue and the interest rate, no more than 30-days after the bonds are issued.  IMPA will file reports on the progress of the Anderson CT Expansion Project through completion and operation.


IMPA provides all the electric power and energy requirements of its 32 municipal members: the cities and towns of Advance, Anderson, Bainbridge, Bargersville, Centerville, Columbia City, Covington, Crawfordsville, Darlington, Edinburgh, Flora, Frankfort, Frankton, Greendale, Greenfield, Jamestown, Ladoga, Lawrenceburg, Lebanon, Linton, Middletown, Paoli, Pendleton, Peru, Pittsboro, Rensselaer, Richmond, Rising Sun, Scottsburg, Tipton, Washington and Waynetown.