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|CONSOL Energy Places 88 MW Generating Facility Into Commercial Service; Southwestern Virginia Plant Is Joint Venture With Allegheny Energy Supply|
PITTSBURGH, July 1 /PRNewswire-FirstCall/ -- CONSOL Energy Inc. (NYSE: CNX) said the 88-megawatt (MW) Buchanan Generation, LLC, Units 1 and 2 were placed into commercial service on June 25, 2002, and began generating electricity for sale into the grid on June 27. The generating facility is owned by Buchanan Generation, LLC, a joint venture of CONSOL Energy and Allegheny Energy Supply, a subsidiary of Allegheny Energy, Inc. (NYSE: AYE).
(Photo: http://www.newscom.com/cgi-bin/prnh/20010115/PHM006LOGO-b )
The coalbed methane-fired, simple-cycle combustion turbine facility, located in southwestern Virginia, makes additional capacity available to meet peak electricity needs in the Eastern Region of the United States.
CONSOL Energy owns a 50-percent interest in the generating facility, which features two General Electric LM6000 combustion turbines. The turbines are fueled by coalbed methane from CONSOL Energy's CNX Gas Company operations. Allegheny Energy Supply operates the facility, and its output is being sold into the competitive wholesale marketplace.
"This plant is the first step in a long-term goal to add fuel-linked power generation to our portfolio of products," said J. Brett Harvey, president and chief executive officer of CONSOL Energy. "We have successfully moved CONSOL Energy from a coal mining company to a multi-fuel energy producer with the development of our coalbed methane gas operations. Linking power generation to our fuel production is a next logical step for us to take in our strategic evolution."
Harvey noted that coal and gas, the two fuels CONSOL Energy produces, supply two-thirds of U.S. electricity generation.
Construction of the facility began in mid-March, and it was placed into commercial service following recent approval by the Virginia State Corporation Commission.
CONSOL Energy Inc. is one of the largest U.S. producers of coalbed methane, with daily gas production of approximately 130 million cubic feet, primarily from wells in Virginia. The company recently began coalbed methane production in Pennsylvania and West Virginia, and has a joint-venture company producing natural gas and oil in Tennessee. CONSOL Energy also is the largest producer of high-Btu bituminous coal in the United States, and the largest exporter of U.S. coal. CONSOL Energy has 25 bituminous coal mining complexes in seven states, two Canadian provinces and Australia. CONSOL Energy has annual revenues of $2.3 billion. It is listed among the Forbes "Platinum 400" companies, won the Platts 2001 Financial Times Global Energy Award as Coal Company of the Year, and received a U.S. Environmental Protection Agency 2002 Climate Protection Award. Additional information about the company can be found at its web site: www.consolenergy.com.
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