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Casper Star Tribune: The bankrupt coal firm that owns the Kemmerer mine has asked a bankruptcy judge in Texas for permission to kill retirement obligations for its former workers in Wyoming and nix the current contract between unionized miners in Lincoln County and the company, citing the difficult market for coal in the U.S. today. […]
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S&P Global Market Intelligence ($): The 12 largest publicly traded U.S. coal producers lost 16.6% of their total market value since September 2018, with just one seeing an increase during the period. The companies’ total market capitalization was $12.68 billion on Sept. 27, 2018, and $10.58 billion as of Jan. 8, 2019, according to data […]
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S&P Global Market Intelligence ($): 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 […]
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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 […]