Duke Energy profit falls on Indiana plant settlement
Duke Energy Corp. said first-quarter profit fell 42 percent after a regulatory settlement in Indiana increased costs and mild weather reduced heating demand.
Energy & Environment
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Bike trail push for Eagle Creek stirs controversy
Mountain bikers have salivated for years about building trails in the rolling hills of Eagle Creek Park, the city’s largest municipal park. But environmentalists worry the paths would cause erosion.
Indiana oil production surges amid high prices
Crude-oil production jumped 8.3 percent in Indiana in 2011, to just under 2 million barrels—the highest output in a decade, according to data from the Indiana Department of Natural Resources.
Power-grid software maker lands $7M in venture capital
Indianapolis-based Blue Pillar Inc., which makes software to manage electrical grids, has closed on $7 million in funding from four venture capital firms, it said Monday.
Indiana announces proposed Duke Energy settlement
Duke Energy Corp. has agreed to cap the cost of its troubled coal-gasification plant in southwestern Indiana at $2.6 billion, or about $700 million less than the expected cost of construction, as part of a proposed settlement announced Monday.
Plant upgrades might cost IPL nearly $1 billion
New federal mercury-reduction regulations may force Indianapolis Power & Light to spend nearly $1 billion to upgrade its coal-fired electric plants scattered around Indiana. Duke Energy is mulling everything from plant upgrades to shutting down older units.
Work on city’s 8-mile sewage tunnel gets underway
Work is starting on an 8-mile-long tunnel under the south side of Indianapolis that is the first major part of a $1.6 billion project aimed at reducing the release of raw sewage into the city's rivers.
Indianapolis expects savings from sweeping energy project
The city is guaranteed $7.5 million in savings over 15 years from a $18 million upgrade of city facilities, and the savings are expected to accumulate further.
Downtown building owner faults IPL for outages
The owner of Market Square Center is complaining to state utility regulators that Indianapolis Power & Light has failed to provide reliable service to the office building, better known as the Gold Building, at 151 N. Delaware St.
New Dow, Monsanto crop needs study, vegetable growers say
A coalition of vegetable growers, including one from Indiana that contains Red Gold Inc., wants U.S. regulators to study the potential damage facing their fields from a new generation of herbicide-tolerant crops.
Central Indiana biodiesel producer files for bankruptcy
E-biofuels LLC in Middletown has fallen into liquidation, listing debts of $17.3 million. The closing of the plant leaves four remaining facilities in the state capable of producing biodiesel fuel.
Indiana farmers tempted to plant early by warm spring
Many farmers across Indiana have been weighing whether to take advantage of this spring's warm weather and plant their crops earlier than usual. Doing so, however, would put them at risk.
Merger of pollution boards worries enviros, chamber
A new state law that merges three longtime rule-making boards into a single panel is stoking concerns among business and environmental groups about what the shift could eventually mean for Indiana's environmental regulations.
High gas prices leading to lower demand for ethanol
Waning demand for gasoline is putting the United States on course to miss a target for ethanol use for the first time, signaling no let-up in the slide in prices.
Russian investor gives Ener1 fresh start
A Russian timber tycoon who poured millions into a battery maker with Hoosier roots is the new owner of Ener1 Inc. Boris Zingarevich supplied $50 million for Ener1’s March 30 exit from bankruptcy and is moving its headquarters from New York to Indianapolis—already home to its core subsidiary, EnerDel.
Purchase of city water utility lifts Citizens Energy’s profits
The $1.9 billion sale of the city’s water and sewer utilities was a profit gusher last year for buyer Citizens Energy Group—at least on paper. Dwarfing the returns of its gas, thermal and other divisions, the newly renamed Citizens Water turned a profit of $53.4 million.
Daniels, hopefuls support Indiana corn ethanol
The Democrat and Republican running to replace Gov. Mitch Daniels spent most of their Tuesday morning talk with Indiana corn growers and ethanol producers outlining their similarities, starting with the fact that their campaign vehicles run on E85 ethanol blends.
EPA moves closer to approval of 15-percent ethanol gas
The federal government announced Monday it has taken a step toward wide distribution of fuel containing 85 percent gasoline and 15 percent ethanol by allowing manufacturers to register as suppliers.
Investors still may clean up on some clean-tech bets
The spectacular flameouts of some startup firms underscores the risk of relying on infusions of federal money to keep a business viable.
Indiana fruit growers hope cold stays away after heat
Indiana fruit growers whose trees were lured into blooming weeks ahead of normal by a March heat wave surveyed their orchards Tuesday following a night of freezing or near-freezing temperatures that threatened the trees' tender blossoms.