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Salt River Project owes USD 53 million for Closing of Kayenta Coal Mine - Peabody

Coal News - Published on Thu, 14 Nov 2019

Image Source: azcapitoltimes
Operator of now closed Kayenta Coal Mine Peabody Energy said that Salt River Project owes it more than USD 53 million for the premature closure of a power plant near Page. Peabody hit SRP with the claim in January, citing the early closure of the coal-fired power plant and updated its claim in a March letter. Peabody said SRP owes it millions for a variety of expenses, including severance pay to laid off miners and equipment that Peabody bought for the mine that wasn't put to its full use.

SRP, whose expenses are paid by the 1 million customers of its electric services in the Phoenix area, is contesting at least part of the claim.

The mine closed in August after sending its last shipment of coal down the electric railroad to the Navajo Generating Station power plant, which is now burning down its remaining coal and expected to close November 14. Kayenta was Arizona's only coal mine, and without another customer, its fate was sealed when the power plant owners voted in 2017 to close the plant.

Source :

Posted By : Yogender Pancholi on Thu, 14 Nov 2019
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