"PARADISE" john prine

Here's a report when considering if Prairie State is a deal Painesville should be involved in.
I have condensed the report the full report can be viewed at    www.prairiestatecoalplant.org

This report was from Energy Economics and Financial Analysis

No Evidence of a Turnabout at Prairie State
By David Schlissel

Prairie State's actual operating performance during the eight month period from January through August 2014 was 18 percent lower than it's owners had budgeted. The average 64% capacity factor, far below the 78.5%  factor the owners had predicted.

During the month's of May through August it operated at 26% below plant owners budgeted. These months are the peak summer months when it is all important the plant preform at it's peak.

64% what grade would that be? 2012 58%, 2013 60% ( I guess they haven't got all the bugs out?)

Prairie State's operating costs for the first 8 months of this year were approximately $4 million dollars more than was budgeted or 24% higher than was budgeted.

We paid 40% more to purchase power from PSEC than buying energy from PJM wholesale markets.
least we forget about added cost of transmission and congestion costs.

The findings did not find any reason to believe a turnabout was in PSEC future. And that PSEC will be much more expensive then if Painesville bought off the wholesale market for many years.

Still we don't need to do anything, Right? Just sit on our hands and pay the man.

Now I have heard we took a gamble, like a farmer can't predict how much rainfall he will receive in a season. There right but a public body such as a city administration or council should never have taken this type of 'gamble' with public funds, we can't pave streets with electric profit's but we can pay shysters for stupid deals. 

When they put out contracts for roads, bridges,  building they get firm contract. Do you think the bridge on Shamrock Blvd. was a 'take or pay' contract?
Private corporations and individuals can make deals like Prairie State but not public entities. No back out, no  guarantee's just it's yours live with it. If the voter's of Painesville would have been given the opportunity to vote on this do you think it would have passed? I still believe it's was proposed in a poor way by the administration, millions on the line 30 year contracts, yeah let's vote. The only way you presently can get out of this contract is to move out of Painesville Power's area.

Now another chilling thought....

Could Painesville Power owe AMP-OHIO over $1,000,000.00 in levelization costs by the end of the year? I believe it will even be higher than that figure. Now if your curious you should contact a council person and ask what the figure is presently. They can find out very easily.

Oh, the song; Paradise will explain who I hold the most responsible for this fiasco.