Energy Report

FirstEnergy and Murray Energy Face Bankruptcy

Date: October 11, 2017

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The Murray Energy Corp. is in danger of bankruptcy if the federal government does not intervene to save their customer FirstEnergy Corp. The disclosure comes from a letter written by founder and CEO Robert Murray to the White House and was revealed by the Associated Press. Murray Energy sells approximately 65 million tons of fossil fuels a year to power plants operated by companies including FirstEnergy. If FirstEnergy announces bankruptcy and closes their plants as expected, Murray Energy could go bankrupt by the end of the year. — Otto Solberg

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