Hallador Energy Company

Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Indiana. The company operates through two core businesses: Hallador Power Company, which produces electricity and provides accredited capacity at its one-gigawatt Merom Generating Station, a coal-fired power plant; and Sunrise Coal, which produces and supplies coal fuel to the Merom Generating Station and third-party customers. The company is actively transitioning its generation platform by developing Turtle Creek Gas, a 460 MW natural gas peaking facility at the Merom site, targeting commercial operation in the second half of 2028. Hallador has approximately $2.4 billion in contracted forward revenue at the segment level extending through 2040, encompassing accredited capacity commitments, delivered energy, intercompany coal sales, and third-party coal sales. The company operates within the MISO (Midcontinent Independent System Operator) electricity market and serves utilities and other counterparties seeking dispatchable generation capacity. Updated Aug 10, 2026