Leucadia Rockport Plant

Rockport Coal-to-Gas Plant: Indiana's Enron

Leucadia Corporation wants to build and own a coal-to-gas plant near Rockport, IN.  Their complex scheme could raise your natural gas rates.

The project is called Indiana Gasification LLC, and the plant is designed to convert coal into pipeline quality gas, called substitute natural gas or SNG. 

Without knowing the real final costs of the project, Leucadia claims that this is a great deal for consumers. Regardless of the cost of natural gas on the market, 17% of every utility bill will be sent to Leucadia to pay for the SNG, whether or not consumers ever receive gas from the plant. That's no deal. 

After negotiations between Leucadia and Indiana’s major gas utilities failed, Governor Daniels introduced legislation in 2009 (SB 423) to have the State sign a contract with Leucadia to force ratepayers to finance construction of the plant.  Contracts were signed and approved by the IURC, only to be challenged in the Indiana Court of Appeals and voided by the court's decision. 

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