Prairie State Energy Campus

IEEFA Research

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 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), […]

IEEFA U.S.: Long-term contracts with AMP are ‘financial disaster’ for Cleveland Public Power customers

IEEFA U.S.: Long-term contracts with AMP are ‘financial disaster’ for Cleveland Public Power customers

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 […]

Cost of Coal From Mine-Mouth Prairie State Plant Isn’t the Bargain That Was Promised

Cost of Coal From Mine-Mouth Prairie State Plant Isn’t the Bargain That Was Promised

Cost of Coal From Mine-Mouth Prairie State Plant Isnt the Bargain That Was Promised By Tom Sanzillo, Director of Finance, IEEFA

April 7, 2015 Read More →
2014 – Another Year of Unmet Promises for the Prairie State Energy Campus

2014 – Another Year of Unmet Promises for the Prairie State Energy Campus

2014 – Another Year of Unmet Promises for the Prairie State Energy Campus (pdf) By David Schlissel, Director of Resource Planning Analysis, Institute for Energy Economics and Financial Analysis

February 24, 2015 Read More →
Memo: Analysis of Paducah Power System’s Recent and Future Cost of Power from the Prairie State Energy Campus

Memo: Analysis of Paducah Power System’s Recent and Future Cost of Power from the Prairie State Energy Campus

Memo: Analysis of Paducah Power System’s Recent and Future Costs of Power from the Prairie State Energy Campus By David Schlissel, IEEFA Director of Resource Planning Analysis

October 28, 2014 Read More →
Report: How the High Cost of Power from Prairie State is Affecting Bowling Green Municipal Utilities’ Customers (Update)

Report: How the High Cost of Power from Prairie State is Affecting Bowling Green Municipal Utilities’ Customers (Update)

  Report: How the High Cost of Power from Prairie State is Affecting Bowling Green Municipal Utilities’ Customers Updated as of October 6, 2014 (pdf) By David A. Schlissel, Director of Resource Planning Analysis  

October 13, 2014 Read More →
Report:  No evidence of a turnaround at Prairie State

Report: No evidence of a turnaround at Prairie State

No Evidence of a Turnaround at Prairie State (pdf) By David Schlissel, Director of Resource Planning Analysis

September 25, 2014 Read More →
Report: How the high cost of power from Prairie State is affecting Bowling Green municipal utilities’ customers

Report: How the high cost of power from Prairie State is affecting Bowling Green municipal utilities’ customers

How the high cost of power from Prairie State is affecting Bowling Green Municipal utilities’ customers (pdf)  

July 7, 2014 Read More →
Report- Overpriced power: Why Batavia is paying so much for electricity

Report- Overpriced power: Why Batavia is paying so much for electricity

Overpriced power: Why Batavia is paying so much for electricity (pdf) Updated 3/11/2014

February 20, 2014 Read More →
Memo – Why should the Ohio Attorney General be asked to investigate the Prairie State deal?  August 21, 2013

Memo – Why should the Ohio Attorney General be asked to investigate the Prairie State deal? August 21, 2013

Memo – Why should the Ohio Attorney General be asked to investigate the Prairie State deal? (pdf)

August 23, 2013 Read More →

More News and Commentary

and

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 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), […]

IEEFA U.S.: Long-term contracts with AMP are ‘financial disaster’ for Cleveland Public Power customers
and

IEEFA U.S.: Long-term contracts with AMP are ‘financial disaster’ for Cleveland Public Power customers

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 […]

IEEFA Update: Lazard Risks Its Reputation by Working With Peabody

‘Cynical Approach in Illinois Is Now Being Repeated in Its Dealings With the Navajo Nation in Arizona’

April 27, 2018 (IEEFA) — A well-known New York investment banking firm is putting its reputation at stake by working with Peabody Energy to keep a failing coal-fired Arizona power plant alive, concludes a letter published today by the Institute for Energy Economics and Financial Analysis. The letter, addressed to Kenneth M. Jacobs, chairman and […]

April 27, 2018 Read More →

IEEFA Update: Navajo Generating Station in Arizona, Next Big Hit to Peabody’s Portfolio

If Keeping a Failing Power Plant Alive Was Such a Good Idea, the Company Would Be Putting Up Some of Its Own Cash

To its credit, Peabody Energy produced more coal in the first quarter of 2018 than it did in 2017, at a time when production for the rest of the United States coal industry was down 6%.  However, despite the production increase, Peabody’s profits from U.S. production were 28% less in the first quarter of 2018 […]

April 27, 2018 Read More →

In Prairie State Settlement, AMP to Refund $67 Million

The Bond Buyer: Ohio-based American Municipal Power Inc. says it has resolved a Securities and Exchange Commission probe triggered by the troubles of the coal-fired Prairie State Energy project in Illinois. The resolution was disclosed in an offering statement for the refunding of up to $67 million of debt tied to the project. Proceeds will […]

October 31, 2017 Read More →

Long-Term Coal-Plant Deal Haunts Illinois Town

The Southern Illinoisan: Cairo Public Utility Co. has found itself in the spotlight related to the housing crisis in Cairo, but utility executives and their consultants say the fingers should be pointing in another direction — toward Springfield. Utility representatives say their wholesale power supplier, the Illinois Municipal Electric Agency, is charging excessively high electric […]

July 24, 2017 Read More →

Peabody Bankruptcy Proceeding Moves Forward, Including Sale of Company’s Share in Prairie State Coal Plant

By Henry Lazenby in Mining Weekly: US metallurgical and thermal coal producer Peabody Energy has received final approval from the US Bankruptcy Court of the Eastern District of Missouri for its $800-million debtor-in-possession (DIP) financing facility, the company announced on Tuesday.  The approval provided Peabody with access to capital to ensure the company could continue […]

May 18, 2016 Read More →
Our Op-Ed in the New York Times: ‘After Bankruptcies, Coal’s Dirty Legacy Lives On’
and

Our Op-Ed in the New York Times: ‘After Bankruptcies, Coal’s Dirty Legacy Lives On’

Costly Effects That Will Haunt Taxpayers, and Consumers, for Years to Come

The bankruptcy filing on Wednesday by Peabody Energy, the world’s largest private- sector producer of coal, is the latest in a series of major coal company collapses that threaten to leave behind a costly legacy that will haunt taxpayers and consumers for years. The abandonment of hundreds of mines over the years led Congress in […]

Op-Ed: Don’t Let Peabody Walk Away From Its Clean-Up Responsibilities in Illinois

Howard Learner for the Springfield (Ill.) State Journal-Register: Doesn’t Illinois already have enough fiscal problems? Now, here comes another $92 million mess if Gov. Bruce Rauner’s Office of Mines and Minerals doesn’t start paying attention and make sure that Peabody Energy commits real money now to fulfill its mine reclamation responsibilities. For too long, Peabody […]

March 7, 2016 Read More →
That $57 Million Payout to Peabody? It Should Go to Ratepayers Stuck Holding the Bag Now on Prairie State Energy Campus

That $57 Million Payout to Peabody? It Should Go to Ratepayers Stuck Holding the Bag Now on Prairie State Energy Campus

The Board Owes Its Customers This Much at the Very Least

Question: Does Peabody Energy really have a right to the proceeds of its $57 million sale of its stake in the Prairie State Energy Campus boondoggle? Peabody developed the project a decade ago, and then talked municipal power agencies with members in eight states—representing about 200 communities—into issuing $5 billion in bonds to buy into […]

February 25, 2016 Read More →