Tuesday night, city council voted 5-0 approving the letters from state leaders to be sent to the Federal Energy Regulatory Commission.
The mayor and other state leaders believe this could seriously financially hurt many communities throughout Virginia.
Martinsville Mayor Danny Turner continues to speak out against the sale of Peabody Electricity's share in the Prairie State Project.
That electric plant in Illinois is supplying electricity to 200 communities across the United States, five of those here in Virginia.

"Made wild promises. They made promises that the plant could be built for 1.8, 1.9 billion dollars," Mayor Danny Turner said.

Mayor Turner says things have changed since Martinsville signed into the electric contract 8 years ago.

"They dump their shares at 20 cents on the dollar so at 20 cent on the dollar our debt service plus compared to the assets makes this a very bad deal," Turner said.

Turner does not want Peabody Electricity to sell its shares below market value.

"We want FERC to examine the financial impact on the localities before they allow the sale to go through," he said.

To help create a voice, State Senator Bill Stanley and Delegate Danny Marshall have written letters to FERC or the Federal Energy Regulatory Commission in hopes they will prevent the sale.
Turner says the taxpayers could owe over $28 million if Peabody Electricity pulls out of the deal.

"The citizens would owe that much. They have signed a blank check over to these people. Saying we will buy electricity and pay debt service and in exchange it won't count as debt against our bottom line," Turner said

American Municipal Power which provides electricity to 130 communities  disagrees with Mayor Turner concerns.
Leaders in Danville say AMP has assured them they will not be impacted.

Danville utility leaders tell WDBJ7; "Peabody Energy has the legal right to sell its share of the campus to a third party at whatever price it deems appropriate. And this sale by a financially stressed entity does not reduce the long term "asset" value of Prairie State."

Mayor Turner will be presenting this issue at city council tonight and then wait to hear on a decision from FERC.