News Center

Latest News

Posted on: July 9, 2021

City of Fishers announces intent to purchase portion of HSE Utilities, no rate increase anticipated

1

Hamilton Southeastern Utilities (HSE Utilities), an Indiana public utility corporation that provides wastewater collection service to portions of Fishers, filed a petition with the Indiana Utility Regulatory Commission (IURC) today requesting the IURC’s approval to sell a portion of its sewer utility system to the City of Fishers (City).  The City also filed a petition with the IURC today, seeking to intervene in the matter in support of HSE Utilities’ request.

HSE Utilities has determined, subject to the approval of the IURC, to transfer substantially all of its assets for the Fishers Service Area to the City pursuant to an asset purchase agreement.  Fishers has agreed to purchase the assets for $90 million, as may be adjusted in accordance with the agreement, which is less than the appraised value of the assets.  The City anticipates issuing sewage revenue bonds to finance the acquisition and does not anticipate raising user rates to complete the financing.

“Through this acquisition, the City can make a strategic investment to provide its community with complete ownership over all sewer assets within Fishers,” said Fishers Mayor Scott Fadness. “Due to strategic investments in our municipal utility and the expertise of our staff, the City is well prepared to consolidate the utilities and provide consistent service and support for all Fishers residents. To be able to finance this purchase without a single penny of increased rates while maintaining the level of service is a real win.”

In addition to currently treating the effluent of over 25,000 HSE customers, the City provides collection and treatment service to approximately 6,500 municipal utility customers.  The City reasonably expects to gain certain operational efficiencies by consolidating both utilities.

The IURC will set an evidentiary hearing to review HSE Utilities’ petition this fall.  The City will seek approval of the acquisition with its Board of Public Works and Safety and City Council throughout the coming months.  Subject to the IURC’s approval, the parties anticipate closing on this transaction by the end of the year, and the City anticipates serving HSE Utilities’ customers on January 1, 2022.  

For more information, visit fishers.in.us/HSEUtilities.

 

Additional Info...
Facebook Twitter Email

Other News in Latest News

fishers farmers market shop fresh, shop local

Fishers Farmers' Market returns May 1

Posted on: April 20, 2021
thrive social club

Thrive Social Club launches in Fishers

Posted on: September 28, 2020
this is fishers

Fishers Launches New Lifestyle Blog

Posted on: August 10, 2020
veterans memorial day

Memorial Day in Fishers

Posted on: May 20, 2020
fishers farmers market shop fresh, shop local

Fishers Farmers' Market returns May 2

Posted on: April 20, 2020
winter wonderland

Holiday fun has arrived in Fishers

Posted on: November 25, 2019