Dennis Kucinich wants federal investigation into failed Illinois power plant and its deal with Cleveland Public Power | cleveland.com

Dennis Kucinich wants federal investigation into failed Illinois power plant and its deal with Cleveland Public Power | cleveland.com: "CLEVELAND, Ohio -- Rep. Dennis Kucinich is asking that the Federal Energy Regulatory Commission investigate an Illinois coal-fired power plant that promised Cleveland and more than 200 Midwest communities low-cost energy, but instead will force them to pay prices 42 percent above the market price.

In a statement issued Wednesday, Kucinich said that Peabody Energy Corp., the country's largest coal producer, knew that power plants were a known financial risk when it looked for investors for its new Prairie State Energy Campus in Marissa, Ill.

In 2007, to work around the need for private investors, Peabody informed public power agencies in the Midwest, including Cleveland Public Power, that they could become owners if they helped finance the project. Agencies were also promised that ownership would ensure lower-cost energy and the ability to make a profit by selling excess cheap power on the market."

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