THE FUTURE OF ENERGY IS HERE.
Prairie State Generating Company, LLC, the operating company of the Prairie State Energy Campus (PSEC), was born from the decision of municipal public power companies, rural elective cooperatives and the leadership of Peabody Energy to build a better coal plant. Prairie State had its visionary start nearly 12 years ago, beginning with its request for an air permit from the U.S. Environmental Protection Agency (EPA). Six years of litigation later, the U.S. EPA awarded Prairie State its air permit, and construction began in 2007. The Lively Grove coal mine was constructed and built by 2009 and began producing coal in 2011. The 1,600-megawatt power plant began producing commercial power on behalf of its owners in June 2012 for Unit 1, and for Unit 2 in November of the same year.
Prairie State Generating Company’s (PSGC) fundamental purpose is to supply our owners with a reliable, low-cost and stable source of electric power that is produced in a safe and environmentally responsible manner. Our more than 500-employee strong work force is focused on that purpose, while upholding the following Prairie State values: safety, integrity, stewardship, respect and innovation. While we focus on producing power, we are also building a new employee-focused company, preserving and enhancing the Owners’ value, investing in our community and demonstrating our commitment to the environment.
The challenges we faced over the past five years in building the power plant have been well publicized and, unfortunately, misrepresented in some cases. While we are not happy with the construction cost increases we incurred on behalf of our Owners at the power plant, the actual cost increases incurred are actually much less, on a relative basis, than those experienced by similar vintage and scale projects. The power plant has tested out with an output capability almost 2 percent higher than its nameplate’s capacity, and almost 2 percent more efficient as well.
The power plant and mine were built and are being operated with industry leading safety and compliance statistics. The environmental controls are performing better than planned. When coupled with the more efficient mine plans earned by PSGC in 2012 and the realization of the Near Field project, these value enhancements represent cost improvements approaching $500 million over the life of the campus.