Indiantown cuts price under Massey supply contract due to FPL talks

摘要

Indiantown Cogeneration LP, the owner of a 330-MW power plant in Florida, recently amended its new coal-supply deal with Massey Energy to temporarily cut the price of nearly 1 million tons/year of coal from 33.75 dollars/ton to 33 dollars /ton. The sole coal supplier to Indiantown had been Lodestar Energy. But in February, due to problems with bankrupt Lodestar, Indiantown executed a back-up coal supply deal it had with Massey. The Massey contract became effective on April 1, which is about the time Indiantown was able to get the Lodestar deal terminated. The plant supplies power to Florida Power & Light under a power purchase agreement, an important point in the coal-supply equation.