"ANOTHER BRICK IN THE WALL" pink floyd

Prairie State costs fuel turmoil at Kentucky's Paducah Power


BRADENTON, Fla.  When an attorney in Kentucky suggested that Paducah Power System file for bankruptcy  to get ratepayers relief from high electric bills, the suggestion made sense to some utility customers.


The suggestion also caught the attention of rating agency analysts monitoring  Paducah Power's finances and debt, most of which funds 80% of its power needs from the troubled Prairie State Energy Campus in Illinois.


"Why don't we immediately bankrupt this company and start getting our rates down quickly?" local attorney Mark Bryant suggested to Paducah City Commissioners during a Sept. 23 meeting.


Paducah Power has $32 million in assets and about $600 million in debt, he also said.


Like other communities that bought into Prairie State, Paducah has seen higher than anticipated costs from the coal-fired generation plant in Washington County, Ill. which has been more expensive to build and operate than owners anticipated...."


SHELLY SIGO BOND BUYER.COM


Paducah, Paducah  you all must be getting tired of hearing about that city,. I know I am. A simple point here. Paducah bought so much more power than Painesville. If they go bankrupt Painesville and the other PSEC communities have to according to the contract pick up the power and costs left by PPS.


A good analogy might be (Paducah) might have a seat in first-class, and (Painesville) might have a ticket in steerage  but if  or when the ship sinks it makes little difference where you are at on board.


I doing these posts to inform, but also show there was a record about what was going on.


Enjoy that plaque council!