The Senate Utilities Committee heard a full day of testimony on SB 309 on February 9 from both sides. No vote was taken and the bill will be heard again on February 16.
Most of the committee testimony was focused on net metering. Senator Hershman offered an amendment on the floor and Sen. Tim Lanane (D-Anderson) indicated he will be offering additional amendments to be considered at the next hearing. The Indiana Chamber gave testimony in support of the bill, including stating: the expectations for energy needs are diverse; our concerns about net metering if we do not make a step forward; the potential for rising costs through continued litigation; and the concern of numerous parties intervening in cases which will further slow down the process and increase costs to both utilities and ratepayers.
Overall, we testified the current bill is a step in the right direction and can be used as a building block going forward.
This bill is truly a compromise of long-standing issues that industrial users and businesses, as well as residential ratepayers, have had with Indiana’s investor-owned utilities. It will not fix all of the concerns our members expressed, but is a first step in helping businesses control costs. It has elements of competitive procurement, net metering, distributive generation and transparency of utility rates. It will serve as a building block of the Chamber’s efforts to maintain Indiana’s historical competitive edge, given the increase in energy costs over the past decade. With that said, we will need to consider all of the amendments before ultimately taking a final position on the bill.
The Indiana Chamber of Commerce formally introduced its new chairman at an awards dinner tonight. Ron Christian, an executive at Evansville-based Vectren Corporation, has been tapped to lead the organization’s board of directors for 2017.
Christian, executive vice president external affairs, chief legal officer and corporate secretary at Vectren, has served on the Indiana Chamber’s board and various policy committees since 2006. Additionally, he has been a part of the Indiana Business for Responsive Government policy group since 2014. Christian was also a member of the 24-person Indiana Vision 2025 task force, which developed the long-range economic plan for the state. In 2013, Christian was named an Indiana Chamber Volunteer of the Year.
At the 27th Annual Awards Dinner before a crowd of nearly 1,500, Christian led the recognition for the Indiana Chamber’s outgoing board chair, Indianapolis businessman Tom Hirons, president and CEO of Hirons Advertising + Public Relations.
A southern Indiana native, Christian started his career as a utility lawyer for Barnes & Thornburg in Indianapolis, after graduating from the University of Evansville, and then with a law degree from the University of Louisville. Christian returned to southern Indiana in 1999 during the merger of Indiana Gas Co. and Southern Indiana Gas & Electric Co., which created Vectren in 2000. Vectren serves more than one million natural gas customers in the state and west-central Ohio, and electric customers in southwest Indiana.
“Ron has been a key partner for the Indiana Chamber for many years and he has passionately given his time and expertise to work on various policy committees, and especially as a member of the Indiana Vision 2025 task force,” states Indiana Chamber President and CEO Kevin Brinegar. “We look forward to his leadership and increased involvement with our organization over the coming year.”
Christian’s chairmanship duties for the Indiana Chamber extend through the group’s next fall board meeting in November 2017.
See the 2013 Volunteer of the Year video on Christian:
The following is the third in our series of Beyond the Bicentennial letters, addressed to gubernatorial candidates. Read them all at www.indianachamber.com/letters.
Dear Mr. Gregg and Lt. Gov. Holcomb:
For Indiana to be the state we all want it to be – one that inspires business location and expansion, brings good-paying jobs to Hoosiers and allows for a high quality of life – a solid infrastructure framework must be in place that reflects both present conditions and is prepared for future developments.
The Superior Infrastructure economic driver in our Indiana Vision 2025 plan champions that belief, with goals regarding transportation, energy, water and telecommunications – all things sometimes taken for granted but inherently critical to running a business and enjoying the comforts of daily life.
Reliable roads and bridges doesn’t seem like a lot to ask for (especially for the Crossroads of America), yet it takes significant investment to keep them functioning, make enhancements and build anew. Frankly, our state has not done enough in recent years and has thus fallen behind.
In 2016, the state Legislature opted to provide short-term funding with a task force set up for the next phase. We all should know at this point – based on studies, reports and simply travelling across the state – that what Indiana desperately needs is a long-term, sustainable, strategic policy plan. One that lasts decades, not a few years or election cycles. And above all, it must be based on the principles that enough revenue is raised to completely fund both maintenance needs and important new projects, and that every user pays their fair share.
There are a number of strategies that should be on the table – any or all of which the Indiana Chamber could support:
Index fuel excise taxes/fees to inflation
Raise fuel excise taxes/fees
Charge fees for alternative-fuel vehicles (which aren’t subject to the regular fuel tax)
Tolling a major interstate
Dedicate all of the sales taxes on fuel to infrastructure (the current model allots a penny with the other six cents going to the state’s general fund), and replace the revenue lost to the general fund with another revenue source so that the general fund is left whole
But, realistically, how we get there matters far less than advancing to the point where we have a robust transportation fund. It’s time to finally address this in 2017 – hopefully in a bipartisan way – before it becomes a crisis.
For decades, many companies have located in Indiana because of its adequate, reliable and affordable supply of electricity. But now that coal – Indiana’s most plentiful energy source – has come under frequent attack by the Obama administration, affordability is starting to go out the window. And how long will it be before businesses and jobs go with it?
Unfortunately, Indiana is to some degree at the mercy of the incoming president and the Environmental Protection Agency. However, we can take additional proactive steps at the state level to combat their actions against coal.
One avenue is to focus on diversifying Indiana’s energy mix with an emphasis on clean coal, natural gas, nuclear power and renewables. Development and execution of a statewide energy plan (which does not currently exist) is essential.
Turning the attention to water, we need to finish the good work that stemmed from the Indiana Chamber’s 2014 water resources study and legislation carried by Sen. Ed Charbonneau and others to develop and implement a statewide water resources plan.
We must ensure that future water resources are available – our ability to effectively compete with other states depends on it. And we are approaching the point where research and data collection should soon transition to action. Leadership must be shown by the next Governor to help spearhead the process.
While the need for water has been obvious since the beginning of time, the advent of broadband and its economic significance is a much more recent development. It wasn’t that long ago that broadband was spoken about only in terms of faster and more reliable internet entertainment. But today, and in the future, its business, medical, security and quality of life impacts are paramount.
Legislation in 2015 that created the Broadband Ready Communities Development Center assists rural locales in working through the barriers they might have to broadband investment by a provider.
But not enough is happening and not quickly enough. We must find more ways to bring the most rural parts of Indiana up to date technologically to help reverse their downward population and economic trends.
That sentiment – being more aggressive – easily could be said for all of these infrastructure components. If elected Governor, we strongly encourage you to make that shift and put a greater priority on these vital issues.
Kevin M. Brinegar President and CEO Indiana Chamber of Commerce, representing 24,000 members and investors statewide
Protecting the environment is a noble goal. However, when the EPA issues mandates that are not reasonable, states suffer. A new U.S. Chamber report has more:
How can states administer 96.5% of all federal delegated environmental programs when federal grants to the states fund no more than 28% of the amount needed to run the programs? The study, the eighth in a series on the federal regulatory process, concludes that instead of being the system of cooperative federalism that Congress intended, the current relationship between the Environmental Protection Agency (EPA) and the states has become one-sided, with the federal government imposing its will.
The U.S. Chamber recommends Congress take specific steps to alleviate and prevent EPA from continuing to commandeer the states. These recommendations include redefining the term “mandate” to better track the impact on the states, passing the Regulatory Accountability Act of 2015, enacting the Sunshine for Regulatory Decrees and Settlements Act, and several other actions outlined in the study.
The governors of the Great Lakes states recently approved a request by a Wisconsin city to draw water from Lake Michigan after its existing water supply dried up. But because the city isn’t in the watershed of the Great Lakes, the two Canadian provinces that share Great Lakes water rights say the request should be denied.
Waukesha, Wisconsin will be allowed to tap Lake Michigan for up to 8.2 million gallons per day once it completes a $207 million pipeline project that would draw in lake water and return fully-treated wastewater.
Delegates for the governors of Michigan, Minnesota, Wisconsin, Illinois, Indiana, Ohio, Pennsylvania and New York gave their unanimous consent to the first formal request to divert water outside the Great Lakes basin during a meeting of the compact council.
The 2008 compact prohibits water from being sent outside the basin watershed. Communities like Waukesha, located over the line but within a straddling county, can apply under a limited exception.
The eight governors approved the request over the objection of widespread opposition. Mayors, legislators, policy-makers and citizens around the Great Lakes have worried about the precedent Waukesha’s application represented.
Waukesha is under a court-ordered deadline to provide safe drinking water by mid-2018. The city draws most of its water from a deep aquifer that is contaminated with unsafe levels of radium, a naturally occurring carcinogen. The city has a population of about 70,000 people.
Kiplinger warns that more water conflicts will flare up, citing California, India, South Africa and the Middle East among the likely areas of dispute.
Summer will be in full swing with a multitude of training opportunities to enhance employees’ expertise and protect your bottom line this August.
First up is the 2016 Indiana Tax Conference, one of the state’s largest, on August 11. Learn the latest in tax case law and legislation as highly-experienced speakers identify ways to help you stay in compliance and reduce tax liability.
Francina Dlouhy, partner at Faegre Baker Daniels, will share her perspective on a crucial issue during her keynote luncheon presentation – It Was a Bad Idea Then and It Still Is Now! What Combined Filing Would Mean for Indiana. Among other themes are multistate tax hot topics for 2016, Affordable Care Act reporting compliance and an Indiana Department of Revenue update.
BKD, LLP is the presenting sponsor. Gold sponsors are MCM CPAs & Advisors and McGuire Sponsel. The silver sponsor is DMA – DuCharme, McMillen & Associates, Inc.
Fuel business savings the following week by attending the 14th Annual Indiana Conference on Energy Management on August 17-18. Learn how to cut costs and maximize resources as energy experts from throughout the state share practical – and effective – compliance strategies.
Don’t miss engaging keynote presentations:
Congresswoman Susan Brooks (invited) – opening general session: August 17
Canadian Consul General Doug George – Energy Security and Supplies: the Canada-U.S. Relationship – general session: August 18
Kyle Rogers, The American Gas Association, and The Edison Electric Institute representative (invited) – Outlook on Natural Gas and Electric – closing luncheon: August 18
Additional highlights include panel discussions, customized training (choose from a variety of options) and an expo showcasing the products and services offered by businesses in your field. Explore topics such as distributed generation; reducing utility bills; using the government and tax code for energy efficiency; and energy bankruptcies.
The 14th Annual Conference on Energy Management will take place at the Crowne Plaza Indianapolis-Downtown Union Station. Register online or call (800) 824-6885.
Gold sponsors: EDF Energy Services; Ice Miller LLP; MacAllister Power Systems; and Vectren. Silver sponsors: Cummins, Geronimo Energy, Indiana Electric Cooperatives, NIPSCO and Telamon Corporation.
The angel investor market in 2015 had a slight increase in investment dollars and in deal size according to a new report from the Center for Venture Research (CVR) at the University of New Hampshire.
The State Science & Technology Institute provides the following analysis:
In The Angel Investor Market in 2015: A Buyers Market, CVR reports that total angel investments in 2015 were $24.6 billion – an increase of 1.9% over 2014. CVR also reported that the total number of entrepreneurial ventures that received angel funding in 2015 declined by 3.1% from 2014 – in total 71,110 start-ups received funding. The result of these two trends was larger deal sizes for 2015 – an increase of 5.1% from 2014. CVR concluded that these findings, combined with yield rates and valuations data, indicate that angels were selective in their investment behavior in 2015.
While CVR contends that the angel market was robust in 2015 – approximately $24.6 billion in investments – they also believe that the selectivity of angels and decrease in valuations over the last three years indicates a continuing market correction in valuations. Other findings include:
Software maintained its top sector position with 18% of total angel investments in 2015
Other key industries include Healthcare Services/Medical Devices and Equipment (16%), Biotech (13%), Industrial/Energy (11%), Retail (10.6%), and Media (9%)
Angel investments contributed to the creation of 270,2000 new jobs in the U.S. – 3.8 jobs per angel investment
The average angel deal size was $345,390
The average equity received was 14.89% with a deal valuation of $2.3 million
Angel investment in the seed and start-up stage (28% of deals) was largely unchanged from 2014 (25% of deals)
Fort-five percent of all angel deals were early stage investments (46% in 2014)
Expansion and late stage investments also remained consistent with regard to percentage of total deals
Interested in the health of Indiana’s tech community? Get involved in the new Indiana Technology and Innovation Council. First open discussion is August 9! Contact Mark Lawrance at mlawrance(at)indianachamber.com to learn more.
The many programs and benefits of Indiana Chamber membership include the state’s deepest and most effective group of issue experts. That team welcomes two talented additions.
Mark Lawrance returns to the Chamber in the new position of vice president of engagement and innovation policy. That includes advocacy work in the areas of technology, economic development and infrastructure.
Greg Ellis begins his work May 31 as vice president of energy and environmental policy. His variety of public and private sector experiences, including serving as an administrative law judge for the Indiana Utility Regulatory Commission since 2010, will prove valuable in his work on behalf of Chamber members.
Chamber President and CEO Kevin Brinegar leads an experienced lobbying team that also includes: Caryl Auslander, education, workforce development and federal relations; Mike Ripley, health care policy and employment law; and Bill Waltz, taxation, public finance and local government reform.
“The hard work that takes place in the summer and fall – Chamber policy meetings, interim legislative panels, individual meetings with lawmakers and more – leads to effective General Assembly sessions,” Brinegar says. “Chamber members will be well represented by these issue experts and the support team we have around them.”
The Indiana Chamber joined 166 other state and local business associations from 40 different states in an amicus brief filed in the U.S. Court of Appeals for the D.C. last Tuesday. Circuit explaining the devastating economic impact posed by the EPA’s carbon regulations.
The lawsuit, which will be considered by a federal appeals court this summer, involves EPA’s “Clean Power Plan” rules, which aim to reconfigure state electricity systems. It is expected to be a landmark case that could shape Indiana’s energy and economic
In issuing these regulations, the EPA purports to have discovered the authority to regulate how states generate, transmit and use electricity, without any authority from Congress to do so.The coalition’s brief outlines major legal and economic concerns with the rule, arguing that EPA has trampled on the rights of states to determine their own energy mix and implement environmental standards in a manner tailed to their own circumstances.
The availability of affordable electricity is a key feature of keeping America competitive in a global economy.The brief explains that EPA’s challenged rule will pose significant harm to regional and local communities, particularly in economically challenged rural areas.
Affordable, reliable energy provides our members a critical advantage in today’s intensely competitive economy. If the courts uphold EPA’s rule, that advantage could be lost and American consumers will be left footing the bill, leading to adverse ripple effects throughout the economy, which will threaten individual businesses, countless jobs and entire communities.
By prematurely and unnecessarily forcing power plants to close, EPA’s regulation will result in higher costs for electricity and all the goods and services that depend on it, which means less money remaining for health care, food, education and other critical needs.
The Indiana Chamber’s brief echoes the call from nearly 160 challengers that have filed suit against EPA, including 27 states, and a host of business, labor and consumer groups.
A decision in the case is likely to be issued by the Court of Appeals for the D.C. Circuit later this year. From there, the challenge is expected to make its way to the Supreme Court, which has ordered EPA to halt all implementation and enforcement actions on the rule until it has the opportunity to consider the case.