It said he was wrong to claim
"It is unwarranted to use the legal process to advance the ‘just say no’ agenda, which opposes practical energy answers and has driven
"A process intended to protect shareholders is instead being used to advance a political agenda," the St Louis-based company said. "It is already accomplishing the first objective: to gain headlines for a cause that has nothing to do with investor communications."
Cuomo issued subpoenas on Friday for internal documents from power companies AES Corp (AES.N: Quote, Profile, Research), Dominion Resources Inc (D.N: Quote, Profile, Research), Dynegy Inc (DYN.N: Quote, Profile, Research) and Xcel Energy Inc (XEL.N: Quote, Profile, Research) and Peabody.
In letters accompanying the subpoenas, the AG’s office asked whether the companies’ investors had received adequate information about the possible financial liabilities of the carbon dioxide emitted from the planned power plants.
Legal experts said it was unusual to make the investigation public and they expected the issue could be resolved without charges,
"Unless they turn up new evidence at some point down the road, you will probably see an agreement between Cuomo and these companies on some sort of enhanced disclosure," said Thomas Dewey of the law firm Dewey, Pegno & Kramarsky.
The company said it does not operate power plants, although "as our investors understand," it will be a minority partner in the proposed Prairie State Energy Campus in southern
"This clean plant has a CO2 footprint 15 percent lower than comparable existing plants,"
About 100 new coal-fired power plants are currently planned in the
Xcel Energy said in an e-mailed statement its environmental disclosures were adequate and that its coal-fired power plant in development in
AES and Dynegy declined to comment on the subpoenas and Dominion was not immediately available. (Reporting by Steve James; additional reporting by Matt Daily)