{"id":3111,"date":"2013-02-27T11:17:16","date_gmt":"2013-02-27T17:17:16","guid":{"rendered":"http:\/\/valleywatch.net\/?p=3111"},"modified":"2013-02-27T11:18:36","modified_gmt":"2013-02-27T17:18:36","slug":"peabody-energy-gets-subpoena-from-sec-relating-to-prairie-state","status":"publish","type":"post","link":"http:\/\/valleywatch.net\/?p=3111","title":{"rendered":"Peabody Energy Gets Subpoena From SEC Relating to Prairie State"},"content":{"rendered":"

February 27, 2013-By Sonja Elmquist, Bloomberg<\/a><\/p>\n

\"Prairie<\/a>

Prairie State is a Peabody Energy backed power plant that was originally announced in 2001 but took more than twelve years to complete. Municipal utilities in Indiana, Kentucky and Illinois and several other states partnered with Peabody. Valley Watch sought unsuccessfully to inform numerous municipalities that Peabody was “low balling” their figures and that the price would rise well above the price being quoted. Valley Watch’s prognostications were correct and now these munis are paying through the nose for electricity they cannot even use. Photo \u00a9 2013 John Blair<\/p><\/div>\n

Peabody Energy Corp. (BTU)<\/a>, 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.<\/p>\n

Peabody is cooperating with the investigation and believes \u201cpending or threatened proceedings\u201d will be resolved without material impact on the company\u2019s financial condition, it said in its annual report filed with the SEC today.<\/p>\n

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\u00a0Illinois<\/a>, the balance being owned by public power agencies.<\/p>\n

\u201cWe look forward to sharing information on what is a highly successful project,\u201d Vic Svec, a spokesman for Peabody, said in an e-mail.<\/p>\n

To contact the reporter on this story: Sonja Elmquist in\u00a0New York<\/a>\u00a0at\u00a0selmquist1@bloomberg.net<\/a><\/p>\n

To contact the editor responsible for this story: Simon Casey at\u00a0scasey4@bloomberg.net<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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. … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[25,252,18,253,251,29],"class_list":["post-3111","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-coal","tag-electricity-pricing","tag-illinois","tag-municipal-utilities","tag-prairie-state","tag-valley-watch"],"_links":{"self":[{"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/posts\/3111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/valleywatch.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3111"}],"version-history":[{"count":2,"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/posts\/3111\/revisions"}],"predecessor-version":[{"id":3114,"href":"http:\/\/valleywatch.net\/index.php?rest_route=\/wp\/v2\/posts\/3111\/revisions\/3114"}],"wp:attachment":[{"href":"http:\/\/valleywatch.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/valleywatch.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3111"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/valleywatch.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}