AMP / Coal / Energy

Cleveland among 60 Ohio cities paying millions for electricity they never received

$5 billion power plant fails to open on schedule

CLEVELAND – Cleveland is among 60 cities and towns across Ohio that paid millions of dollars in bond payments for a new, $5 billion power plant that produced no electricity for months.

The Prairie State Power Plant, located in southern Illinois, was financed through the sale of municipal bonds.

Interest payments on bonds became due last March and triggered huge payments for cities like Cleveland, which is being billed $251,536.80 monthly.

Meanwhile, the plant produced zero electricity while bond payments since March totaled $3.7 million that cities were required to pay.

— Ron Regan, Newsnet5

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