🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Navajo Generating Station buyer backs out; coal plant's future in doubt

Published 09/21/2018, 05:36 PM
© Reuters.  Navajo Generating Station buyer backs out; coal plant's future in doubt
NG
-
BTU
-
  • The largest coal-fired plant in the western U.S. suffered a new setback this week in an effort to keep the plant running until 2040, as Middle River Power said it would not move forward with the purchase of the Navajo Generating Station in Arizona.
  • Peabody Energy (NYSE:BTU), which supplies NGS with its coal, has been looking for buyers to take ownership after most of its original owners opted to sell the plant last year; the federal government owns a 25% stake.
  • While Middle River did not specify the developments had led to its change of heart, coal facilities continue to close as they become less economical than cheap natural gas and renewables.
  • A number of groups, including the Trump administration, want the Navajo plant to stay open, but there are no takers yet for the power it produces.
  • Now read: Sirius Minerals (SRUXF) Investor Presentation - Slideshow


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.