February 27, 2013-By Sonja Elmquist, Bloomberg
Peabody Energy Corp. (BTU), the largest U.S. coal producer, said the Securities and Exchange Commission served it with a subpoena seeking information and documents relating to the development of the Prairie State power station.
Peabody is cooperating with the investigation and believes “pending or threatened proceedings” will be resolved without material impact on the company’s financial condition, it said in its annual report filed with the SEC today.
The Prairie State Energy Campus became operational last year. Peabody, based in St. Louis, owns 5.06 percent of the 1,600-megawatt, coal-fueled power plant in southern Illinois, the balance being owned by public power agencies.
“We look forward to sharing information on what is a highly successful project,” Vic Svec, a spokesman for Peabody, said in an e-mail.
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