Archive for September, 2013

More News and Commentary

Comparison of prices Galion, OH has paid for Prairie State Power with average market prices

Comparison of prices Galion, OH has paid for Prairie State Power with average market prices

Note: in the months of January through May 2013, and again in July 2013, AMP included a “rate levelization” credit in Galion’s bills, meaning it was using funds from other sources, including bond proceeds, to bring the rates down somewhat. This money will have to be paid back eventually. In addition, this comparison excludes net […]

September 27, 2013 Read More →
60 Ohio municipalities billed thousands more for electricity after buying $5 billion power plant

60 Ohio municipalities billed thousands more for electricity after buying $5 billion power plant

CLEVELAND – “Cleveland is among 60 municipalities across Ohio paying twice as much for electric power after buying into a $5 billion coal plant…. An exclusive 5 On Your Side investigation into the plant found half the plant, Unit 1, will shut down in upcoming weeks due to ‘design and construction deficiencies’. Unit 2 will […]

September 26, 2013 Read More →
Galion council, mayor work on energy deal compromise

Galion council, mayor work on energy deal compromise

GALION — “After weeks of heated debate over whether Galion should ask the Ohio Attorney General’s office to review the city’s contract with Prairie State Energy Campus, council and Mayor Tom O’Leary are working together toward a compromise. Council voted to send a revised resolution on the issue back to committee during Tuesday night’s council […]

September 25, 2013 Read More →
Coal India misrepresented coal reserve figures in 2010 IPO, Greenpeace says

Coal India misrepresented coal reserve figures in 2010 IPO, Greenpeace says

MUMBAI- “Coal India Ltd., the world’s largest coal producer, could exhaust its coal reserves in 17 years, according to research by Greenpeace India, which claims that the company misrepresented its extractable coal reserve figures during its IPO listing in 2010… Greenpeace has filed a complaint with the Securities and Exchange Board of India, the country’s […]

September 24, 2013 Read More →
Report- Coal India: Running on empty?

Report- Coal India: Running on empty?

Coal India: Running on Empty? CIL’s extractable coal reserves could be exhausted in 17 years (PDF)

September 23, 2013 Read More →
Coal India’s extractable reserves depleting: Greenpeace report  At targeted production rate, this could get exhausted in 17 years

Coal India’s extractable reserves depleting: Greenpeace report At targeted production rate, this could get exhausted in 17 years

MUMBAI- “Greepeace in its report released on Monday said that Coal India has only 18.2 billion tonnes of extractable coal, as per the United Nations reserve classification system. At targeted production rates, these reserves could be exhausted in 17 years. Coal India on its website has revealed that it has 21.7 billion tonnes of extractable […]

September 23, 2013 Read More →
Coal India hiding truth on reserves from investors: Greenpeace

Coal India hiding truth on reserves from investors: Greenpeace

  MUMBAI: “Environmental group Greenpeace today claimed that its research has found that the world’s largest coal producer, Coal India Limited, is misleading potential shareholders by concealing the true level of its extractable reserves, as it prepares to sell additional shares to international investors. The company has failed to disclose to stock exchanges an internal […]

September 23, 2013 Read More →
Prairie State deal deserves to be investigated

Prairie State deal deserves to be investigated

CLEVELAND, OH – “Peabody Energy, the nation’s largest coal company, promised 217 municipalities and 17 electric membership cooperatives in the Midwest a source of low-cost, stable electricity in return for bearing the financial risk of building the Prairie State coal-fired power plant.   The plant, in Southern Illinois fully connected to the grid less than a […]

September 19, 2013 Read More →
Farmers take A$10bn Alpha coal mine to court

Farmers take A$10bn Alpha coal mine to court

  PERTH (miningweekly.com) – “The proposed A$10-billion Alpha coal project being developed by Gina Rinehart’s Hancock Prospecting and joint venture partner GVK is facing a court challenge. A farmers and a community group, Coast and Country Association of Queensland, is challenging the project in the Queensland Land Court on Monday, claiming it would irreversibly damage […]

September 17, 2013 Read More →
Higher bills blamed on coal plant- Rock Falls residents pay more than surrounding communities

Higher bills blamed on coal plant- Rock Falls residents pay more than surrounding communities

ROCK FALLS –  “A new coal-fired power plant in southern Illinois is being blamed for higher electricity prices in towns with municipal utilities, including Rock Falls. One group says the plant could mean higher electric bills for a decade or more. Less than a year ago, the Prairie State plant opened in Marissa, which supplies […]

September 13, 2013 Read More →