Huntley Generating Station: Coal Plant’s Weak Financial Outlook Calls For Corporate And Community Leadership January 28, 2014.

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Presentation transcript:

Huntley Generating Station: Coal Plant’s Weak Financial Outlook Calls For Corporate And Community Leadership January 28, 2014

Huntley’s pre-tax earnings have fallen dramatically: $110 million in 2008 to -$3 million in 2012 Low natural gas prices, stagnating electric demand, and rising coal prices have driven Huntley’s decline Not expected to recover through 2020 Huntley units are not financially viable for the near future Summary

Trends impacting coal-fired power Natural gas displacing coal: natural gas prices fell 60% from 2008 to 2013 Low gas prices driving down wholesale electricity prices. Western New York wholesale energy prices fell 36% from 2008 to 2013 Coal prices increasing Coal units are retiring (more than 13,000 MW from )

Huntley’s recent performance

Huntley’s Energy Margin,

Huntley’s earnings EBITDA: earnings before interest, taxes, depreciation and amortization

Future outlook Wholesale market prices not expected to recover Coal prices increasing at ~ 7%/year Huntley units aging (currently years old)

Projected future earnings EBITDA: earnings before interest, taxes, depreciation and amortization

Thank You! Cathy Kunkel Institute for Energy Economics and Financial Analysis

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