"BEAUTIFUL LOSER" bob seger

"You just can't have it all"

Looking through my AMP-OHIO stuff I found an interesting article.


Seems the town of Danville,  Virginia  AMP-OHIO's biggest investor in the  Prairie State  Energy Campus at 49.7 MW along with being the biggest investor in AMP's failed Meigs County plant which they owe millions in stranded costs plus owning 22 MW of AMP expensive hydro projects soon to come on line.

Yes we were (are) involved in these projects but not to the extent of Danville.

Danville was recently addressed by AMP President Marc Gerken the one that came to Painesville City Council and explained to Council Councilman Flock he had the wrong bad information?

Well this statement pretty much sums it up;

He also recently admitted he is not "proud of the Prairie State project either ... looking back, if it were up to me. " I wouldn't do it again."

So in retrospect who is the loser here? AMP-OHIO who contributed nothing financially, or the numerous communities that are invested in these failed projects?

No not the communities involved, they will pass the cost onto you know who. (YOU)

Well, the loser's are us. We will pay the piper for what these professionals and experts that
signed us up for this folly!

Maybe not today but very soon the chickens will come home to roost and we can all proudly pay the piper!

Maybe Council-President Hada was right maybe we will not be able to have turkey on Thanksgiving because we won't be able to afford to cook it?

Buckeye News:

Bowling Green and Hamilton, Ohio, each have a 35-megawatt stake in the plant and both are suffering because of it. Bowling Green has raised it's electric rates by 25 percent over the next five years to cover the cost of Prairie State's electricity (and AMP very expensive hydroelectric plants). The situation has placed tremendous strain on Bowling Green State University, the towns biggest electricity customer, and Fitch has cited Hamilton as being under "financial stress and considering rate hikes.)

Cleveland (24.8 MW ), Piqua (19.9 MW) and Celina, Ohio (14.9 MW) all are noted for being at risk because of their exposure to Prairie State.
Cleveland in particular is in jeopardy because Cleveland Public Power is the only municipal utility in the state that competes house-to-house with First Energy. If CPP rates become higher it will most likely plunge into a financial spiral. Standard and Poor's downgraded CPP bond rating to "negative" last year, and an independent consultant hired by the city said its high-priced fixed contracts for electricity must be remedied.

Oh, The Joy Of Owning A "Toxic Asset" Us Loser's do seem to have it all!