IndyEnergy Statement (April 2, 2020)

IndyEnergy supports the established of a Covid19 designated fund which the city can borrow against only if needed which will appear likely given economic forecasts by city staff. Repayment of any funds borrowed should be at an interest rate hire than what these funds currently earn.

This is an appropriate use of the city’s largest financial asset - its public utilities.

There is a mistaken notion that our utilities are flush with cash. IPL currently owes approximately $250 million on four different bond issues. It also faces significant capital expenses which can be put off, but not delayed indefinitely.

The electric industry is undergoing massive change. IPL is challenged by continuing management changes and following through on major projects such as closing down Blue Valley power plant and implementing a new simplified rate structure.

This is not the time for a month long utility forgiveness to all rate payers. Such an ill-advised action would result in a $1 million hit to the general fund budget and only complicated and compounded the city’s financial problems.

We do support substantial city increases in funds for utility assistance to those with financial needs.

The city has responded appropriately by not cutting off utilities during the period.

About us

IndyEnergy is a community education effort that began in 2014 by three individuals who live and are involved in Independence.

Its primary activity are hosting community forums, providing information on our website and occasionally providing public comment before the City Council and the Public Utility Advisory Board. We advocate on issues, but are not a lobbying organization.

IndyEnergy promotes a broader understanding of issues and developments involving the city-owned Independence Power and Light (IPL) and city-owned public utilities.