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On the Blogs: Peabody May Revisit Bankruptcy

Seeking Alpha: In the U.S., gas and renewable energy are a major problem. Pay attention to where Peabody will sell its coal. Peabody thinks it is going to sell coal at expense of its competitors, and has ambitions for Powder Rover Basin and Western coal production that probably are not achievable. Internationally China controls the […]

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Peabody Bankruptcy Deal Leaves Taxpayers With Mine Cleanup Bill

The Wall Street Journal: A mining company’s debt-cutting plan will leave taxpayers facing a bigger bill for cleaning up nearly two dozen hazardous sites primarily in the central U.S., including a swath of northeast Oklahoma that once produced lead ore for bullets in both World Wars. The 22 properties will be shed by miner Peabody […]

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IEEFA Puerto Rico: The PREPA Restructuring Plan Before Congress Is Not Realistic and Does Not Hold All Players Accountable

IEEFA Puerto Rico: The PREPA Restructuring Plan Before Congress Is Not Realistic and Does Not Hold All Players Accountable

Bondholders and Dealmakers Are Not Stepping Up; Citizen Ratepayers and Taxpayers Are Left Holding the Bag Under Proposal Before Congress

Puerto Rico’s electricity-system imbroglio is in the public eye today in Washington, where a house subcommittee is holding a public hearing on a plan to restructure the Puerto Rico Electric Power Authority’s staggering $9.5 billion debt. We’ve written a letter to the subcommittee chairman, Rep. Doug LaMalfa, detailing how the debt restructuring plan sells Puerto Rico […]

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IEEFA to Congressional Subcommittee on PREPA: Debt Restructuring Plan Before Congress Is Not Realistic and Does Not Hold All Players Accountable; Puerto Rico Left Open to More Financial Turmoil

Bondholders and Financiers Are Not Stepping Up; Citizen Ratepayers and Taxpayers Are Left Holding the Bag Under Current Proposal

March 22, 2017 (IEEFA) —The Institute for Energy Economics and Financial Analysis has written a letter to the chairman of a House subcommittee holding a public hearing today on a plan to restructure the Puerto Rico Electric Power Authority’s $9.5 billion debt. The letter, signed by IEEFA Director of Finance Tom Sanzillo, describes how the current proposal […]

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In ‘Deepening Industry Decline,’ 2 Coal-Fired Electricity Plants in Ohio Will Close Next Year

Reuters: Electricity company Dayton Power & Light said on Monday it would shut down two coal-fired power plants in southern Ohio next year for economic reasons, a setback for the ailing coal industry. Dayton Power & Light, a subsidiary of The AES Corporation, said in an emailed statement that it planned to close the J.M. […]

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The Exxon Email Trail

Associated Press: Democratic Massachusetts Attorney General Maura Healey is asking Exxon Mobil to preserve all alias email accounts of company executives. Massachusetts and New York are investigating whether Exxon misled investors and the public about the risks climate change posed for the oil and gas company. Monday’s letter comes after it was disclosed former Exxon […]

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IEEFA Update: Peabody’s Recovery Plan Overstates the Market for Coal

Fragile Back-to-Black Balance Sheet Stands to Leave Investors in the Red; Likely Underperformance on Production and Revenue Forecasts

Last week’s bankruptcy court approval of Peabody Energy’s reorganization plan should be cause for investor alarm. The flaws in the plan are fundamental: First, the company is claiming an increase in coal sales at a time of a declining market. The company in fact faces the likely loss of five to seven million tons per […]

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Poll: 83.8% of North Carolinas Oppose Duke Energy Charging Ratepayers for Coal-Ash Cleanup; 83.2% Favor Politicians Who Support Renewables

Charlotte Business Journal: Duke Energy gets bad news in a new poll on N.C. voter attitudes on energy: Three-quarters of voters surveyed are concerned about Duke’s coal-ash ponds and 83.8% say Duke itself should pay for cleaning them up and not charge customers. And 67.5% of voters surveyed in a poll commissioned by Conservatives for […]

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U.S. Coal Industry: ‘Prospects for Jobs Are Weak’

The Washington Post: The battered U.S. coal industry is showing flickering signs of life. Yet the prognosis for Big Coal remains dim. Coal prices are about double what they were a year ago. Rail car deliveries of coal are up 16 percent this year. The more than 50 coal mining firms that went bankrupt over […]

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Xcel Energy Sees Expansion of Wind Assets Through Upper Midwest

Utility Dive: Xcel Energy wants to add 1,550 MW of wind energy to its system through a mixture of power purchase agreements and utility-owned projects that will increase the company’s wind portfolio 60% and provide power for more than 800,000. The investment, which Xcel first announced last year, should help the utility deliver more than […]

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