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David Schlissel and Press Release
Gap between costs from Prairie State, Combined Hydro Project and market prices continues to grow
September 9, 2021 (IEEFA)—Newly available data shows American Municipal Power’s (AMP) Prairie State and Combined Hydro Project have caused costs to continue climbing for municipal ratepayers, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). Data covering January 2020 through July 2021 showed that Cleveland Public Power (CPP) and its […]
Press Release and David Schlissel
Dozens of communities in five states pay far above market price for electricity from Prairie State coal plant and Ohio River hydro projects
September 21, 2020 (IEEFA) — Long-term contracts with American Municipal Power (AMP) have stuck 83 communities in 41 counties across five states with extraordinarily high electricity prices for half a century, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis. The largest AMP member, Cleveland Public Power (CPP), […]
Press Release and David Schlissel
Utility’s reliance on two projects cost ratepayers an extra $106 million
September 11, 2020 (IEEFA) — Long-term contracts with American Municipal Power (AMP) have been “a financial disaster” for Cleveland Public Power (CPP) customers, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis (IEEFA). About 70% of CPP’s expenditures for its total power supply are paid to AMP, an […]
Tom Sanzillo
Prairie State Energy Campus Is Worth Only a Fraction of the $5 Billion Local Municipalities and Regional Power Authorities Owe on It
Peabody Energy’s decision to sell its share of the Prairie State Energy Campus for 23 percent of its original value is just the most recent—but perhaps the starkest—reminder that this project is a financial failure. IEEFA has chronicled financial weaknesses of the Illinois plant since before it opened in 2012, and warnings around its viability […]
IEEFA
Prairie State Energy Campus
Prairie State Energy Campus (PSEC) participants: Complete list of project participants grouped by public power agency, including power purchase commitments List grouped by state and listed alphabetically Map of Prairie State communities Project agreements: Project Management agreement between Prairie State Generating Company and power agencies Project Participation Agreement among the power agencies Large Generator Connection […]
IEEFA
The mayor of Danville, Va., tells the president and CEO of American Municipal Power, one of the architects of the city’s deal to buy into Prairie State Energy Campus: “This is really hurting our community and our citizens; I don’t think you really understand that.” Danville Utility Commission blames Prairie State Project for Rate Woes
IEEFA
Executives at Paducah Power System say they will stay the course on their commitment to Prairie State Energy Campus, the costly and poorly performing coal-fired power plant. In an article in this morning’s Paducah Sun, David Zoeller quotes PPS officials as being largely unmoved by worries that the plant is a drain on the economic […]
IEEFA
The Bond Buyer this morning profiles IEEFA’s series of commentaries and reports published last week on the poorly performing Prairie State Energy Campus and the economic damage it has caused in towns and cities across the Midwest. The article, by Yvette Shields, highlights IEEFA’s core assertion that investors and the firms that orchestrated the coal-fired […]
Tom Sanzillo and David Schlissel
A Solution That Requires All Parties to Contribute and That Allows an Honest Assessment of the Plant’s Viability … For most of the history of the more than 200 towns and cities tied today to the failing Prairie State Energy Campus, households and businesses were charged reasonable rates for the electricity they used. That all […]
Sandy Buchanan
An Ill-Conceived Power Plant Sapping the Economic Vigor of Communities Far and Wide … Imagine, if you will, the small-business pillars of a town shutting their doors suddenly because they can’t pay their bills. Households having to choose between paying their heating bills and buying groceries. Bigger businesses, universities and hospitals being forced to cut […]
IEEFA U.S.: Long-term contracts with American Municipal Power (AMP) saddle local communities with high prices
Dozens of communities in five states pay far above market price for electricity from Prairie State coal plant and Ohio River hydro projectsSeptember 21, 2020 (IEEFA) — Long-term contracts with American Municipal Power (AMP) have stuck 83 communities in 41 counties across five states with extraordinarily high electricity prices for half a century, according to a briefing note released today by the Institute for Energy Economics and Financial Analysis. The largest AMP member, Cleveland Public Power (CPP), […]