Congressman Todd Young Shows Support for IMPA Efforts

Published on 2/28/2012

 

Visit with IMPA communities highlights dedication to keep electric rates affordable in Indiana


CARMEL, IN – United States Representative Todd Young visited the offices of the Indiana Municipal Power Agency (IMPA) on February 24 to show his support for Indiana’s public power utilities and keeping electricity rates low for their customers.  IMPA is the wholesale power provider to 54 communities in Indiana.

Congressman Young attended a meeting of the Agency’s Board of Commissioners, which is comprised of a representative from each of IMPA’s 54 member communities. 

“I understand the importance of energy policies to Hoosiers,” commented Congressman Young. “These things need to be done with balance, balancing energy prices and jobs with a clean and healthy environment.  Our office is attentive, we’re doing our homework, and I’ll continue to fight for efforts that protect the supply of reliable, low-cost power.”

“IMPA’s wholesale rates are the lowest in the state,” said Raj Rao, President and CEO of IMPA. “We can continue to keep them low, but we need your help.”

Impending US Environmental Protection Agency (EPA) regulations could potentially have a substantial impact on electric utilities in Indiana and throughout the country.  Regulations aimed at reducing greenhouse gas emissions could place an undue hardship on many coal-fired generation plants, substantially increasing the cost of producing coal-generated electricity.  Required modifications to existing plants that would meet the new requirements are expensive, and the burden of the increasing cost would ultimately be borne by utility customers.  More than 90 percent of the power in Indiana is generated from coal.  As a result, the EPA rules will have a significant impact on Hoosier businesses, municipalities and consumers.

President Rao also discussed the importance of maintaining tax-exempt financing for IMPA and its municipally-owned member utilities.  A recent proposal by the Administration threatens to weakentax-exempt financing for municipal bonds.  The Agency and its members use tax-exempt financing to fund infrastructure improvements, including electric facilities, which serve the public good.  The taxexempt bonds give IMPA and other municipalities the ability to finance these infrastructure projects at a lower cost, which ultimately results in lower power costs to residents and businesses.

Congressman Young met with a variety of public power officials, local elected officials and representatives from IMPA to listen to concerns and express his clear support for IMPA’s efforts. “Should these regulations come to pass, on a gross basis, the only state that would have a higher per capita rate than Indiana would be Texas.  I’m fighting hard to prevent that,” Young said.

“We are pleased Congressman Young took the time to speak with us regarding our concerns with EPA regulations and tax-exempt financing,” commented Rao.  “We appreciate his efforts and we are confident he will continue to spread the message in Washington D.C. that we must keep electric rates affordable for Indiana utility customers.”


Related Links:
11610 North College Avenue
Carmel, Indiana 46032
317-573-9955    317-575-3372 (fax)
1-800-826-IMPA    info@impa.com

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