Citizens Energy gets interest-rate bargain on bonds sold for utility purchase
Stock-market swoon contributes to favorable terms on purchase of city’s water, sewer systems.
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Landmark water tower could be razed in Greenwood
A central Indiana water tower that once served as a local landmark for residents is being targeted for demolition because officials say it poses a safety hazard to a nearby airport.
Mayoral foe: Utilities sale money should fund ‘human capital’
Democratic mayoral candidate Melina Kennedy unveiled a proposal Friday to set aside $150 million in proceeds from the sale of the city’s water and sewer utilities to fund early education, crime prevention and job training.
Regulators approve Indianapolis water utility transfer
State regulators on Wednesday approved a proposal to transfer control of Indianapolis’ water and sewer utilities to a local not-for-profit trust. The $1.9 billion sale will put management of the utilities into the hands of Citizens Energy Group.
City seeks bids for $300M sewage tunnel system
City officials are seeking bidders for the first phase of Indianapolis’ largest-ever public works project, an underground tunnel system equipped to store millions of gallons of raw sewage and prevent the excrement from flowing into local waterways.
Industrial support for utility sale to cost $1.5 million
The price to get big industrial firms like Eli Lilly and Co., National Starch and Rolls-Royce Corp. to support the sale of the city’s water and sewer utilities to Citizens Energy Group is at least $1.5 million.
Settlement caps Citizens Energy customers’ deal fees
Ratepayers would pay no more than $14 million to cover charges associated with Citizens’ purchase of Indianapolis water and sewer utilities. Some say the capped amount is too much.
Citizens Energy agrees to document utility savings
A not-for-profit public trust that wants to buy Indianapolis' water and sewer utilities has agreed to document all of the savings it says the $1.9 billion deal would create. State regulators still must approve the transaction.
Indiana OKs 26-percent Indianapolis water increase
Regulators have approved a 26-percent rate increase for Indianapolis water customers, the Indiana Utility Regulatory Commission announced Wednesday, less than the 33.4-percent increase requested.
Water employee: Veolia falsified records to get bonuses
Testimony is part of effort to deny Veolia Water $29 million contract termination fee as part of utility sale. Group claims salaried employees owed millions of dollars.
Group opposes city plan to pay water manager Veolia $29M
The city should refuse to pay the contract-termination fee given alleged defaults by Veolia, the consumer group says. Veolia is out after city sells the water company to Citizens Energy Group.
Touted Build America Bonds may not be available for utility deal
Citizens Energy previously said not using the bonds would add about $100 million to the cost of the deal over 30 years.
Veolia losing water contract, will get $29M termination fee
Playing a limited role under Indianapolis Water's new owner, Citizens Energy, wouldn't be profitable, Veolia says. Citizens plans to make job offers to "substantially all" Veolia employees.
Customer-service jobs likely casualty in utility merger
Consultant finds 23 or so customer-service jobs may be unneeded after Citizens Energy acquires city water and sewer utilities. Administrative jobs may also be on bubble, though most savings are from capital-related expenses.
Smooth utility deal carries potential bonus for city
If Citizens Energy can successfully manage and mitigate over the next two years the city’s lingering legal and contractual
obligations involving the water and sewer utilities Citizens is negotiating to buy, the city can hang onto an extra $25 million
in the deal.
City lands $13.8M more than expected from water deal
The city's AAA bond rating boosts proceeds to $153.8 million. It originally expected $140 million for street, bridge and
sidewalk projects.
Council advances utilities transfer proposal
City-County Council members voted 19-10 Monday night to approve Republican Mayor Greg Ballard’s $1.9 billion plan to
transfer Indianapolis’ water and sewer utilities to Citizens Energy Group.
Key vote ahead for utilities transfer
A plan to transfer the city's water and sewer utilities to Citizens Energy Group faces a key vote Monday night at a meeting
of the City-County Council.
Water, sewer utility sale passes another hurdle
Sale of city's water and sewer utilities faces showdown on Monday with full council vote.
Water, sewer sale clears another hurdle
The $1.9 billion deal still needs the OK of the City-County Council and state regulators.