Should our $ go to FW?

With all due respect to Fort Wayne, maybe the rest of us who pay Indiana Michigan Power bills would like another opinion.
Fort Wayne, in a long and complicated process, has settled a contentious dispute with I&M about ownership of the former municipal utility there.
Without going into too many details, the key is that in October the sides reached an agreement that grants I&M the last of the remaining assets of the municipal utility and gives it the right to serve its Fort Wayne customers.
The pricetag on the agreement is an eye-popping $39.2 million.
And who is picking up the tab? I&M ratepayers.
As far as one analyst in the office of the Indiana Utility Consumer Counselor, the deal smells.
It’s one thing for ratepayers to cover the cost of the actual property — that’s $13.1 million of the $39.2 million.
It’s another thing entirely for us to be asked to cover legal costs and interest, which add up to $15.2 million.
The Indiana Utility Regulatory Commission is going to take another look at the deal.
But as it stands right now, plenty of folks who may never set a foot in Fort Wayne will take a shot in the wallet. — J.R.[[In-content Ad]]