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Gov. Mitch Daniels has signed into law a bill he says will save Indiana’s natural gas users billions of dollars in the coming years.
The law allows the Indiana Finance Authority to negotiate 30-year contracts to buy and sell synthetic natural gas from a coal-gasification plant that is planned for construction along the Ohio River.
State officials hope to open up bids for the estimated $2 billion plant by the end of the week.
Daniels said the plant near the town of Rockport will lead to about 1,000 temporary construction jobs and 500 permanent jobs. He says the law will ensure a steady supply of synthetic natural gas free from the price fluctuations of traditional natural gas markets.
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