Agreement Ensures Continued Utility Service to Four Apartment Complexes
INDIANAPOLIS – Citizens Energy Group announced today that it has reached an agreement with JPC Affordable Housing that will ensure continued utility service to the company’s four apartment properties and the repayment of most of JPC’s past due utility bill debt now totaling more than $1.9 million.
“We are very pleased that we have reached an agreement to prevent utility disruption to the residents of the four JPC Affordable Housing properties while protecting our customer base from the full cost of JPC’s past due utility debt,” said Jeffrey Harrison, President & CEO of Citizens Energy Group.
Citizens has taken unprecedented efforts over the past two years to keep utilities connected at JPC-owned properties, including engaging in 19 payment arrangements with JPC, which were subsequently broken, and providing about two dozen monthly notices warning of potential disconnection. In 2021, Citizens wrote off more than $240,000 of JPC’s past due utility debt after the sale of its Lakeside Pointe at Nora and Fox Club properties.
Under the terms of the agreements announced today, JPC will be selling their four remaining properties in Indianapolis – Woods at Oak Crossing, Covington Square, Berkley Commons and Capital Place - and proceeds will be used to compensate Citizens and other creditors. Citizens expects to receive approximately 80 percent of JPC’s past due amount. While the properties are for sale, the agreement requires JPC to stay current on their monthly utility bills to ensure continued utility service.
“Our settlement results in a positive outcome for all stakeholders, but especially for the residents of JPC properties. I want to thank everyone who worked on achieving this outcome,” said Harrison.
Harrison added that Citizens will continue doing all it can to help customers across its service territory avoid utility disconnections. “Citizens has always worked to avoid utility disconnections, especially over the past two years when many customers have struggled with high inflation and the hardships of the COVID-19 pandemic. During these difficult economic times, Citizens is committed to remaining a leader in providing financial assistance to customers,” Harrison said.