trending Market Intelligence /marketintelligence/en/news-insights/trending/qkcgczlki3sw7kcruqxolq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

FirstEnergy settles coal contract dispute with Tunnel Ridge

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020

FirstEnergy settles coal contract dispute with Tunnel Ridge

A FirstEnergy Corp. subsidiary will pay $93 million to Tunnel Ridge LLC to settle their dispute over a dropped coal supply contract that was to run through 2020.

The Alliance Resource Partners LP subsidiary on March 15 filed a request with the Court of Common Pleas of Allegheny County, Pa., to settle, discontinue and satisfy its lawsuit against Allegheny Energy Supply Co. and several affiliates. The filing comes after FirstEnergy revealed in a Form 10-K filing with the SEC that the parties reached an agreement in principle to settle all claims in the dispute.

"Certain aspects of the final settlement agreement will be guaranteed by [FirstEnergy], including the $93 million payment," FirstEnergy wrote in its SEC filing.

Tunnel Ridge sued Allegheny Energy in 2015 after accusing the FirstEnergy subsidiary of breaching a long-term contract signed in 2008. Tunnel Ridge claimed Allegheny Energy notified the coal supplier in August 2014 that it would refuse to accept any more shipments under the supply contract, citing force majeure provisions in the agreement including the U.S. Environmental Protection Agency's implementation of the Mercury and Air Toxics Standards rule. Allegheny Energy said the rule forced the closure of several of its coal-fired power plants, including the Hatfield's Ferry and Mitchell Power Station 3 plants in 2013.

Tunnel Ridge amended its lawsuit in May 2017 to accuse Allegheny Energy and the other defendants of acting to deceive it amid other fraud claims.