GALION — “The efforts of Galion Councilwoman Roberta Wade to share her concerns about the operations of the Prairie State Energy Complex, and the City of Galion’s role in that project, will be highlighted this Wednesday during a nationally-broadcast news conference to release the results of a new report issued by the Institute for Energy Economics and Financial Analysis.
A press release received by GalionLive on Monday shares the following:
Coal giant Peabody Energy promoted the controversial Prairie State Energy Campus to public officials in more than 200 communities in eight states as a cheap, long-term source of power. But a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) will show that the troubled coal-fired power plant and coal mine operation will end up costing cities and towns up to 100 percent more for that power than what was promised.
Behind schedule, over budget and not producing electricity as promised, the Prairie State Energy Campus is a 1,600-megawatt, coal-fired electrical power station and coal mine under construction near Marissa, Illinois, less than 50 miles from St. Louis. About 95 percent of the project is being financed by in excess of 200 local government units in eight states: Virginia, Ohio, Kentucky, Indiana, Illinois, Michigan, Missouri and West Virginia. While all the units of government now face major financial risks, the most severely exposed are the scores of communities that signed contracts that will force them to pay their share for Prairie State even if it never produced a single watt of power.”
— Galion Live