Longview Power Announces Promotion of Steve Nelson to Chief Executive Officer
Maidsville, West Virginia. Longview Power announced that Stephen Nelson has been promoted to be its Chief Executive Officer effective September 1, 2020. Mr. Nelson joined Longview Power in 2014 as its Senior Vice President responsible for designing and managing the highly successful rehabilitation of the 710 MW supercritical coal fired plant, completed in 2015. Since then Mr. Nelson, as Chief Operating Officer, was the leader behind the Longview Power plant becoming the lowest cost, most reliable, and cleanest coal fired power plant in the United States. Mr. Nelson has over 40 years of experience encompassing the key aspects of power plant operations and maintenance. Prior
Longview Power Emerges From Bankruptcy
July 31, 2020. Maidsville, West Virginia. Longview Power (the “Company”) emerged from bankruptcy on July 30th strategically positioned to build on its record as a low cost, highly reliable and clean coal fired power plant by expanding into a multi-fuel “all of the above” power producer. The last regulatory approval required for Longview Power’s emergence was received from the Federal Regulatory Energy Commission in mid-July, less than 100 days after the Company filed for bankruptcy protection in April.
Bankruptcy Court Confirms Longview Power Plan of Reorganization
Longview Power (the “Company”) achieved an important milestone on May 22nd when Judge Shannon of the United States Bankruptcy Court for the District of Delaware issued an order confirming the Company’s prepackaged chapter 11 plan of reorganization after a brief uncontested hearing.
Longview Power sees quick bankruptcy exit, plans gas and solar builds
The 700-MW Longview Power coal-fired plant in West Virginia will continue to be operated by namesake parent company Longview Power LLC after it emerges from bankruptcy, CEO Jeffrey Keffer said in an interview with S&P Global Market Intelligence. The company's main focus in the coming years, however, will be developing and financing a 1,200-MW gas-fired facility and a 70-MW solar project. Longview Power's 700-MW coal-fired project in Monongalia County, W.Va., which sells its output into the PJM Interconnection market, financially struggled this winter as warmer-than-usual temperatures depressed power demand. The company filed for Chapter 11 bankruptcy protection for the second time in less than a decade earlier in April, filing a prepackaged reorganization plan with the U.S. Bankruptcy Court for the District of Delaware on April 14. We really started working [on the bankruptcy] in late January when we realized that we weren't going to have any kind of winter energy price boost," said Keffer. "It was just such an unseasonably warm winter, if anything, pricing for us was running less than half of what we normally see." With the Longview Power plant reliant on price bumps in the winter months, mild temperatures made it impossible for the company to repay its debts.
Longview Power Files Prepackaged Chapter 11 To Facilitate Ownership Change
Longview Power LLC has filed for Chapter 11 bankruptcy protection under a prepackaged reorganization plan as a result of substantially lessened demand for electricity due to long term power-pricing pressure caused by cheap natural gas, an unseasonably warm winter, and the COVID-19 pandemic and resulting economic impact, which collectively have severely depressed power prices.