Citizens for Alternatives to Longview Power (CALP)
UPDATES: February 2007 Hearing Goes Well in Federal Court; USEPA to get involved. Click here for details.
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Longview is NOT Financially ViableOne of the West Virginia Public Service Commission (PSC) requirements that Longview still refuses to address is proof that the Longview project is financially viable. The most recent testimony filed with the PSC by Eric Batchelder of Goldman Sachs continues to talk prospectively of the financing Longview will someday have. Yet no one has signed a long-term power purchase agreement with Longview. The proposed Longview power plant project has been around for four years now. Where are those contracts?
After four years, perhaps the markets know something that Longview does not want the local community or the PSC to find out. No One is buying this power plant! No one! There are no investors, no contracts for equipment purchases, and the option on the property has not been exercised. None of it is happening.
Yet the local newspaper continues to blithely report everything Longview says as fact. On February 21, 2006, Longview said it plans to start construction this summer. They have given proposed starting dates every few months for the past four years, yet they are nowhere near ready to start building. The local newspaper reports these start dates every time without ever once asking Longview why it should be believed this time when it has been wrong about that start date every single time.
If the newspaper started researching Longview's credibility and actually asked those questions, it would communicate to readers the same story that Wall Street is communicating to Longview by their deafening silence: No One is Buying this power plant.
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