Moody’s Investors Service says Prairie State Energy Campus’s performance improved in 2015.
The bond credit rating company attributes the improvement to new management and the resolution of several start-up operating issues. Paducah Power System customers have been paying high electric rates due to the systems partial ownership of Prairie State.
Paducah Power’s Andrea Underwood says the improvement is good news but doesn’t necessarily mean lower bills.
“There’s some other factors which contribute to our power cost, such as the market price and our excess capacity,” Underwood said. “So the performance of Prairie State alone will not determine whether we’re able to lower our power cost adjustment in July, but it certainly helps. So we see this as a positive step toward that goal.”
Moody’s says the plant’s stronger operations and ability to compete well with natural gas strengthen its position as a long-term electricity source. But the plant could face challenges meeting carbon emission requirements of the Clean Power Plan,which is currently under legal dispute.
Prairie State is a coal-fired power plant and coal mine in southern Illinois.
