NACCO’s Fourth Quarter Coal Deliveries Decline
For 2021, NACCO said it expects coal deliveries to be comparable to 2020. “We continue to believe that coal will play an important role in electricity generation capacity in the U.S.,” said J.C. Butler, president and CEO, NACCO. “The recent events in Texas show us the importance of an electrical source that’s readily dispatchable. We are actively engaged in keeping our coal customers competitive and we will continue to do so.”
Prior to the recent power outages in Texas, the owner of the power plant served by the company’s Sabine mine, Southwestern Electric Power Co., was planning to retire it in 2023.
In May 2020, Great River Energy (GRE) in North Dakota, the Falkirk mine’s customer and the company’s second largest customer, announced its intent to retire the Coal Creek Station power plant in the second half of 2022. GRE is willing to consider opportunities to sell Coal Creek Station, and NACCO is actively engaged in the exploration of options that could, if successful, allow for transfer of ownership of the power plant to one or more third parties, which would preserve jobs at both Coal Creek Station and the Falkirk mine.