HALLADOR ENERGY CO (HNRG) Form 8-K — Oct 8, 2026
Hallador Energy's subsidiary Hallador Power signed a six-year PPA and Zonal Resource Credit agreement with Duke Energy Indiana on October 7, 2026, covering Merom Generating Station deliveries from June 2029 through May 2035. The capacity agreement sells an annual average of 225 MW of accredited capacity for approximately $271 million, while the unit-contingent energy agreement covers 200 MW of base energy and is estimated to generate about $422 million at current forward prices. The deal was priced at a record $80+/MWh, more than 20% above the company's March capacity contract.
Key figures
- Deal Value Usd
- $693 million (approx. $271M capacity + ~$422M estimated energy over 6-year term)
- Gross Proceeds
- 0
- Zrcs per day
- 225
- Contract term
- June 1, 2029 through May 31, 2035
- Contracted 2036 2040
- approximately two-thirds
- Ppa letter of credit
- $3.5M rising to $7.0M (Jan 2029), then $4.5M (Jun 2031), $2.7M (Jun 2033)
- Zrc capacity revenue
- $271 million
- Record contract price
- $80+/MWh
- Mppsa letter of credit
- $6M rising to $12M (Jan 2029), then $8M (Jun 2031), $3M (Jun 2033)
- Base energy quantity mw
- 200
- Turtle creek project mw
- 460
- Estimated energy revenue
- $422 million
- Total forward sales book
- $2,987.27 million (segment level)
- Contracted price per mwh 2026
- 46.07
- Contracted price per mwh 2030
- 73.26
- Contracted price per mwh 2031 2035
- 75.35
- Total consolidated contracted revenue
- $2,477.89 million
- Merom capacity contracted through 2035
- approximately 95%
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