Business Services Industry
Possible Sale of Indianapolis Power & Light Ignites Debate over Panel's Power.
Knight Ridder/Tribune Business News, October, 2002
By Gargi Chakrabarty, The Indianapolis Star Knight Ridder/Tribune Business News
Oct. 21--When Indianapolis Power & Light Co. was purchased by AES Corp. 19 months ago, the state's utilities regulators had little say in the matter.
And if IPL were to be sold by financially struggling AES -- a possibility that has been raised by industry analysts -- there's precious little the Indiana Utility Regulatory Commission could do to ensure the local power company would go to a top-notch buyer.
That's because the IURC lacks statutory power to examine holding companies of utilities in case of mergers -- an authority it has been seeking from state legislators for two years.
"We need merger authority," said IURC Chairman Bill McCarty. "If...
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