Illinois Business Journal Illinois Business Journal
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New Prairie State Energy Campus to power five Midwestern states


   When the $2.9 billion Prairie State Energy Campus comes online early next decade, the power it generates will be sent out on the grid to supply customers of the various Prairie State partners in five states: Illinois, Indiana, Kentucky, Missouri and Ohio.
   That's because approximately 90 percent of the 1,600 megawatts have already been sold

The Prairie States Energy Campus will produce 1,600 megawatts of electrical power when completed. The power will supply 1.7 million families spread out across five states.

to the partners in the project. Only about 10 percent, and perhaps less, will be available on the open market.
   Prairie State Generating Company LLC, owner of the energy campus, is comprised of Illinois Municipal Electric Agency, Kentucky Municipal Power Agency, Missouri Joint Municipal Electric Utility Commission, Northern Illinois Municipal Power Agency, the Indiana Municipal Power Agency, American Municipal Power-Ohio, Prairie Power Inc. and Peabody Energy. Together, they provide power to 1.7 million families. Peabody Energy currently owns about 10 percent of the LLC. Illinois communities that will receive power from Prairie State range from Naperville outside of [continue]


State senator seeking to enable state, citizens to oust Illinois governor if they choose

   An upstate Illinois senator is laying the groundwork to amend the Illinois Constitution and allow citizens to participate in a recall election that - if successful - could remove Gov. Rod Blagojevich from office.
   State Sen. Dan Cronin (R-Elmhurst), the Republican Party chairman for DuPage County, on August 6 introduced a senate resolution for a constitutional amendment that would enable Illinois to do what 26 other states including California are already able to do: Put the question directly to the voting public as to

State Sen. Dan Cronin (R-Elmhurst) whether or not they want to keep their governor or replace him.
   "We can change the Illinois Constitution with a three-fifths vote of the legislature," said Cronin. "We've (the Illinois General Assembly) been voting on things like the budget with a three-fifths majority, so that's not [continue]


Agents weather slower real estate market

   The residential real estate market may be suffering a downturn, but from the perspective of area agents, it's business as usual.
   It's hard to argue with the numbers, of course. After record-breaking new home starts and home sales in 2004-2005, subsequent years have seen a slowdown on both counts. Rising interest rates, changes in lending criteria and a narrowing gap between supply and demand have meant a statistically significant decline in overall

. Making assertive price adjustments, getting sellers to offer buyers money for closing costs, outworking and out-servicing the competition are ways realtors here are staying on top of their game as the market begins to rebound.
home sales over the course of the past two years.
   According to figures from the Illinois Association of Realtors, total home sales in June 2007 were down 17 percent from June 2006, with year-to-date sales down 15 percent from the same period last year. In Southwestern Illinois, year-to-date regional [continue]