Thursday vote on Senate bill could kill Rockport deal - 14 News, WFIE, Evansville, Henderson, Owensboro

Thursday vote on Senate bill could kill Rockport deal

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A vote is expected in the Indiana Senate that could determine the future of the proposed coal gasification plant in Spencer County.

A lot of natural gas customers will be watching this vote Thursday. That vote over this senate bill 510 could actually kill the Rockport deal.

If the state can sell natural gas from the plant on the open market and receive a profit, natural gas customers in Indiana would receive a discount on their bills.

Senate bill 510 requires those reimbursements come every three years rather than in 30 years when the plant's contract with the state would end. 

If the state ends up losing money, it would then be up to gas customers to make up the difference. 

Rockport's mayor has said Leucadia National, the company that is financing the project, is only willing to operate under the state's 30 year contract. 

If senate bill 510 is passed, Leucadia could end the $2.5 billion deal.

Other groups that will be watching this vote Thursday is Vectren and other utility companies.  Vecten also provides natural gas and opposes the Rockport project. 

We'll have the latest on this vote on Thursday.

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