This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Council OK's Extension For Long-delayed Wyo. Plant


CASPER, Wyo. (AP) â¿¿ A divided Wyoming citizen panel on Monday granted a seventh permit extension in 16 years for a power plant in the Powder River Basin that was first proposed in 1996 and has yet to be built.

A majority of the Wyoming Industrial Siting Council voiced skepticism about the $800 million Two Elk Energy Park outside Wright in the Powder River Basin. Even so, the council voted 4-2 to amend the project's permit. Under the change, work would resume in January 2014 and wrap up in 2016.

Two Elk originally was supposed to begin generating electricity in 1999, but all that's been built since it got its first industrial siting permit in 1997 is a storage building and part of the plant's foundation.

Lack of financing has been the project's biggest hang-up. Though the power plant got help from $445 million in municipal bonds over the years, Two Elk's developer, Greenwood Village, Colo.-based North American Power Group, is still seeking an investor.

Two council members opposed the latest extension, but other members said the council's authority is limited to managing any socio-economic or environmental disruption to nearby communities. Second-guessing whether the plant will be built, said those who voted for the extension, is not within the council's purview.

"In my mind, folks, there's a lot of ancillary discussion going on," said council Chairman Shawn Warner, of Powell. "I can find no socio-economic impacts that are negative."

The Industrial Siting Council dates to the 1970s and traces its origins to the strains on police and other local services that an invasion of workers at booming coal mines caused in northeast Wyoming â¿¿ in the same area as the Two Elk site a couple miles from Arch Coal's enormous Black Thunder mine.

Council member Jim Miller, of Sundance, described himself as supportive of coal-fired electricity but said Two Elk's delays may well have caused socio-economic harm. Other power plant operators in the region might be trying to plan for when and if Two Elk will begin generating electricity, he suggested.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs