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S&P Global Market Intelligence ($): Struggling coal miner Westmoreland Coal Co. disclosed that a major Ohio customer will stop buying its coal at the end of the year. A subsidiary of American Electric Power Co. Inc. declined Westmoreland’s bid to supply coal to units at the generator’s Conesville power plant after the current contract expires […]
IEEFA
Casper Star-Tribune: The coal firm that operates the Kemmerer mine in western Wyoming has secured $110 million from a majority of its existing creditors to help ease financial pressure. The cash injection will buy Westmoreland Coal Co. time to plan for long-term viability ahead of a likely bankruptcy filing, some experts said Tuesday. “To me, […]
Press Release
The Company That Supplies the Failing San Juan Generating Station Is in Deep Financial Peril
Feb. 2, 2018 (IEEFA) — An energy-market expert for the Institute for Energy Economics and Financial Analysis has filed an affidavit in support of a New Mexico group that is asking the state’s utility commission to investigate ratepayer risk in the financial relationship between Public Service Company of New Mexico and Westmoreland Coal Co. A […]
IEEFA New Mexico: Ratepayer Risk Seen in Utility’s Entanglements With Westmoreland Coal
The Company That Supplies the Failing San Juan Generating Station Is in Deep Financial PerilFeb. 2, 2018 (IEEFA) — An energy-market expert for the Institute for Energy Economics and Financial Analysis has filed an affidavit in support of a New Mexico group that is asking the state’s utility commission to investigate ratepayer risk in the financial relationship between Public Service Company of New Mexico and Westmoreland Coal Co. A […]