News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Wayside Furniture

Akron General

Knight Foundation


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Congressman Kucinich asks for investigation of Cleveland energy deal
Monday, Kucinich asked the SEC to investigate deals made with Peabody Energy Company.
Story by JON REISDORF


 

Congressman Dennis Kucinich has asked that the Securities and Exchange Commission fully investigate agreements that now commit Cleveland Public Power to pay around $19 million for investing in a coal plant.

The agreements are with Peabody Energy Company in Illinois and involve Cleveland Public Power and more than 200 other Midwestern municipal power agencies, which became part owners of Peabody Energy’s new Prairie State Energy coal plant. Kucinich says the city of Cleveland signed a 50-year deal to invest in the plant with a promise of lower electricity costs.

“I was reading stories about how Cleveland City Council in October 2007, was given information that said that for the city to invest in this they would have about a seventy-two percent reduction in the cost of power. And now, we’re seeing that it has gone from a seventy-two percent reduction to the cost of power being doubled.”

Cleveland’s deal specified that the ratepayers would pay even if the plant never generated electricity.

“So now you’ve got these utility ratepayers that are on the hook. What I want to happen is to just go over the entire deal to see if people were properly advised. And if they weren’t then, you know, they’ll be further legal action.”

Kucinich says Peabody could be owed billions for energy it may never provide. He also asked the Federal Energy Regulatory Commission to investigate the deals last week.


Listener Comments:

Thank God someone's watching and trying to prevent financial hardships to utility customers and others.


Posted by: jj (MO) on October 2, 2012 10:10AM
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook



Stories with Recent Comments

Will Ohio's marijuana initiative follow casinos' lead?
We just ask to have marijuana legalized and here comes some nimrod trying to rob us of our rights and make us buy it from some legalized new type DRUG DEALER th...

Fancy dinners from humble beginnings at The Blue Door
Grandma of Chris Miller moved to Florida in a retirement community but I sure miss the Falls and the Blue Door, and the fine service and the true friendship of ...

The Black Keys guitar tech's moment in the spotlight
Nice job, Vivian. It's always nice to hear about the unsung heroes getting their due! Thank you, Chuck Johnston (Full disclosure - I'm a friend of the Carney fa...

A guide for gift-shopping for older Ohians
I'll never be to old for peanut brittle.

Akron's Tuba Christmas: A resounding blast of holiday spirit
Nice piece, Vivian! Looking forward to hearing you move from flute to tuba on Saturday. Love hearing your interviews and this seemed extra special since I kno...

Cleveland Hugo Boss workers are fighting for their jobs again
Bro. Ginard; I support your effert to keep your jobs, I understand all about concesions, I was a Union offical from 1965 until 1991 and the company th...

Asian Carp control could benefit from bill passed by House, heading to the Senate
help me fight the battle against invasive carp by method of harvest

Ohio's Portman supports lifting limits on party political money
If Portman was legitimately concerned about outside groups influence on elections he would have supported the DISCLOSE act. Instead he helped block it being bro...

Study shows trade with China has cost more than 3 million U.S. jobs
I disagree with James Dorn! If we don't change the playing field and make it a fair competition the whole US industry will be weaker and weaker. Eventually all ...

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University