CLEVELAND, OH — “Five years ago, Cleveland city officials embraced a plan to build a coal-fired power plant in southern Illinois in the hopes that owning a portion of the facility would help city-owned Cleveland Public Power control the cost of electricity for its customers in a mercurial market.
So far, however, the plant has failed to live up to its billing.
City officials confirmed in an interview last week, that from March through May, CPP paid a total of $753,000 though it received no electricity because the plant was inoperative and experiencing technical problems. And in the plant’s first year, CPP will pay a rate 42 percent higher than the market price, though CPP’s original sales pitch to City Council and the public predicted the plant’s rates wouldn’t hit those rates until 2025.”
— Leila Atassi, Cleveland Plain Dealer