PSI decides to write off most of its $2. 7B Marble Hill investment
After the Indiana Supreme Court ruled last November that the utility may not recover its investment from the cancelled plant, Public Service Indiana (PSI) decided to write off a substantial portion of the $2.7 million already invested in the cancelled Marble Hill nuclear plant. The board will omit common stock dividends for three years and the preferred stock dividend for the first quarter. It will also accept a negotiated rate settlement of 8.2% increase. A 5% emergency surcharge will become permanent. The settlement calls for the utility to restrict capital expenditures over the next three years to the $285.1 million already budgeted for construction. Opposition from a consumers group argues that ratepayers should not be the risk bearers for PSI, but the utility argues that its long-term financial health depends on attracting and keeping investors.
- OSTI ID:
- 5862483
- Journal Information:
- Electr. Light Power; (United States), Vol. 64:3
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
29 ENERGY PLANNING
POLICY AND ECONOMY
INDIANA
NUCLEAR POWER PLANTS
MARBLE HILL-1 REACTOR
FINANCING
CANCELLATION
ECONOMIC IMPACT
ELECTRIC UTILITIES
INVESTMENT
RATE STRUCTURE
ENRICHED URANIUM REACTORS
FEDERAL REGION V
NORTH AMERICA
NUCLEAR FACILITIES
POWER PLANTS
POWER REACTORS
PUBLIC UTILITIES
PWR TYPE REACTORS
REACTORS
THERMAL POWER PLANTS
THERMAL REACTORS
USA
WATER COOLED REACTORS
WATER MODERATED REACTORS
210200* - Power Reactors
Nonbreeding
Light-Water Moderated
Nonboiling Water Cooled
290600 - Energy Planning & Policy- Nuclear Energy