PHOENIX (AP) - A coal mine operator says the price of its coal could be lowered through 2025 if a new buyer takes over the power plant it sells to.
The Arizona Republic reports (http://bit.ly/2oUUTG9 ) Peabody Energy officials are hopeful that new ownership would make the Navajo Generation Station profitable again. Peabody's Kayenta Mine in northern Arizona provides fuel for the power plant located near Page. The plant provides power to Arizona, Nevada and California customers.
The four current owners of the power plant already voted to shut it down by this summer unless they can get a new lease agreement with the Navajo Nation, who owns the land.
Officials say a new buyer would need to negotiate a new lease with the Navajo Nation and establish a long-term purchase agreement for the power from the plant and an economic coal-supply agreement.
Information from: The Arizona Republic, http://www.azcentral.com
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