Bankruptcy no option for Paducah Power

PADUCAH, Ky. (AP) — Paducah Power System’s interim chief says the utility doesn’t qualify for Chapter 9 bankruptcy protection.

Interim General Manager Mark Crisson told WPSD-TV in Paducah (http://bit.ly/1FaUhuY ) the utility is in a position to pay its debts.

Crisson says that forecloses the legal option for the financially troubled entity.

The utility’s options now include getting Prairie State Energy Campus, the power supplier, to produce more energy, refunding old bonds and possibly marketing its assets.

The utility’s board will meet on Dec. 8, where board members will consider a resolution taking bankruptcy off the table as an option.

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Information from: WPSD-TV, http://www.wpsdlocal6.com

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