Cleveland is among 60 municipalities across Ohio paying twice as much for electric power after buying into $5 billion power plant.
CLEVELAND - A Cleveland councilman says rate payers are "getting hosed" in a $5 billion electric power plant deal that produced zero electricity for months.
Cleveland councilman Mike Polensek raised serious questions about the deal during an extended interview following an exclusive 5 On Your Side investigation into the plant.
The Prairie State Power Plant was scheduled to go online last December, but our investigation found a "failure" in fans removing toxic exhaust gas in March stopped the plant from operating.
Cleveland and 60 other cities across Ohio are partial owners of the plant through the sale of municipal bonds in a deal involving American Municipal Power, a non profit corporation that owns and operates electrical facilities.
Meanwhile, interest on bond payments resulted in Cleveland paying a quarter million dollars a month beginning last March, while the plant produced zero electricity.
The plant began producing electricity last month in Unit 1, but Unit 2 is not expected to be operating until the end of the year.
A complete list of cities and what they were charged can be found on our exclusive interactive map.