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Gov vetoes bill which could have led to higher natural gas prices

Fri, 10 Aug 2012 17:00:38 CDT
By: AP

Gov. Pat Quinn has vetoed legislation that would have forced Illinois natural gas utilities to buy synthetic gas from a proposed plant on Chicago's South Side.   The governor vetoed the bill on Friday. It would have forced Nicor Gas and Ameren Corp. to buy synthetic natural gas from the Leucadia Corp. gasification plant for 30 years to help pay for its construction. The proposed plant was to be built at the site of a former steel mill on the city's southeast side and use Illinois coal and refinery waste. Proponents said it would guarantee a market for Illinois coal, create jobs and assure gas supplies. Opponents said it would force utilities to buy natural gas at rates far higher than market price and lead to consumer rate increases.

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