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25 August 2006 -- The U.S. Environmental Protection Agency's Environmental Appeals Board has affirmed the air permit for the Prairie State Energy Campus. The ruling confirms that the Illinois Environmental Protection Agency conducted a proper and thorough environmental review and that Prairie State's advanced technologies will comply with state and federal regulations to protect the environment.
"This is a major milestone that moves us closer to development of Prairie State," said Peabody President of Generation and Btu Conversion Rick Bowen. "The need for projects like Prairie State, which generate clean electricity and enhance America's energy security, is greater than ever."
Prairie State will utilize state-of-the-art generation and emissions control technologies, generate low-cost electricity for the Midwest, create more than 450 permanent jobs and inject nearly $100 million in economic benefits into the Illinois economy each year.
The Prairie State Interest Group currently owns 47 percent of the project and an equal amount of output and includes a consortium of Midwest utilities including the Indiana Municipal Power Agency; Kentucky Municipal Power Agency; Missouri Joint Municipal Electric Utility Commission; Northern Illinois Municipal Power Agency; Soyland Power Cooperative Inc. in Illinois; and Wolverine Power Supply Cooperative Inc., in Michigan.
"We are very happy to see the final EAB approval of this project," said Raj Rao, President and Chief Executive Officer of the Indiana Municipal Power Agency. "The delay has already affected public power customers in five states, and we are excited and look forward to moving to construction mode. We appreciate the thoughtful, detailed judgment of the Environmental Appeals Board."
With the final approval of the air permit, Prairie State can move forward with selection of construction and operating partners as well as financing.
Peabody Energy is the world's largest private-sector coal company, with 2005 sales of 240 million tons of coal and $4.6 billion in revenues. Its coal products fuel approximately 10 percent of all U.S. electricity generation and 3 percent of worldwide electricity.
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