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A ‘Buyer Beware’ on Peabody Energy Property; Regional Demand for Coal Is in Decline; Export-Market Possibilities Are Bleak; Previous Recent Mine Deals Have Failed
June 29, 2017 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) published a report today concluding that Peabody Energy’s Kayenta mine in northeast Arizona is not likely to find new customers or markets once its sole customer, Navajo Generating Station, closes. The Navajo Nation Council voted this week to approve a deal with […]
Gallup (N.M.) Independent: U.S. Secretary of the Interior Ryan Zinke applauded the Navajo Nation Council’s approval of a new lease with Salt River Project to continue operating Navajo Generating Station through 2019. But grassroots organizations criticized the Council’s approval of the lease as a green light for the owners of the power plant to exploit […]
Gallup (N.M.) Independent: Thanks to the completion of a $60 million solar farm in Kayenta, which is already producing energy, the future is looking brighter. When construction began in December, close to 250 individuals, including 195 Navajos, worked during the six-month period of construction. With the completion of the solar facility, approximately 13,000 homes will […]
Arizona Republic: The Navajo Nation Council on Monday approved a new $350 million lease for the coal plant near Page that could allow it to remain open another two years. Salt River Project, Arizona Public Service Co., Tucson Electric Power and NV Energy agreed to run the Navajo Generating Station through 2019 if the tribe […]
Seeking Alpha: In concluding highlights of qualitative events that signal big change, I’ve thought for some time that the fate of the Navajo Generating Station in Arizona is likely to be significant for the coal industry in general and Peabody Energy (NYSE:BTU) in particular. Navajo Generating Station is a big old and dirty 2.25 GW […]
Associated Press: The Navajo Nation Council has approved legislation that will allow a coal-fired power plant in northern Arizona to continue operating through December 2019. The 18-4 vote late Monday means at least 700 jobs at the Navajo Generating Station near Page and the mine that supplies the coal won’t be immediately lost if the […]
Bloomberg BNA: Peabody Energy Corp., the mine’s operator, promises that the reclamation will be done right. If it’s not, locals fear the Navajo and Hopi tribes in the northern part of the state will be left with a parched, ravaged homeland that might never be fully restored. Peabody’s Kayenta Mine in Arizona provides coal to […]
Press Release
Initiative to Limit Job Losses and Community Disruption; Investing in Economic Growth Rather Than Subsidizing Northern Arizona's Failing Coal Industry
June 6, 2017 (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published a report outlining an economic- growth strategy for a region that stands to be set back severely by the closure of the Navajo Generating Station and the Kayenta coal mine. The proposal—“A Transition Plan for Communities Affected by the […]
Arizona Republic: The Navajo Nation introduced legislation late Wednesday to extend the lease on the coal-fired power plant near Page so that it can operate through 2019. SRP and the other utilities that own NGS have said they want to close by 2020 because the plant is no longer cost-effective compared with other power resources, […]
Navajo-Hopi Observer: Given the dire state of coal markets and the extreme unlikelihood that the sector will ever recover, Navajo grassroots groups are urging the Navajo Nation’s leadership to take advantage of the deal to build a more sustainable economy and not squander the new retirement timeline by trying to keep the plant running past […]
IEEFA Report: Kayenta Mine Is Unlikely to Find New Customers Once Navajo Generating Station Closes
A ‘Buyer Beware’ on Peabody Energy Property; Regional Demand for Coal Is in Decline; Export-Market Possibilities Are Bleak; Previous Recent Mine Deals Have FailedJune 29, 2017 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) published a report today concluding that Peabody Energy’s Kayenta mine in northeast Arizona is not likely to find new customers or markets once its sole customer, Navajo Generating Station, closes. The Navajo Nation Council voted this week to approve a deal with […]