A coal-fired electricity plant in Southern Illinois is a costly, promise-breaking failure, a new report says. The Institute for Energy Economics and Financial Analysis has a new report saying the municipalities and co-ops that have agreed to buy power from Peabody Energy’s Prairie State Energy Campus in Marissa will be paying more than they believed.
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“We took great pains in this study to provide you with up-to-date market estimates,” says author Tom Sanzillo. He says an energy consulting firm, Cambridge Energy Research Associates, gave an Ohio newspaper the same forecast Sanzillo’s group has about Prairie State’s long-term financial prospects.
The report paints a picture of a project costing $5 billion, about twice what was estimated.