Hallador Energy is a vertically integrated independent power producer and coal company based in Indiana. Hallador operates two core businesses: electric power generation through its Hallador Power subsidiary, and coal mining through its Sunrise Coal subsidiary. On the power side, Hallador owns and operates Merom Generating Station, a 1,080 MW coal-fired plant in Sullivan County, Indiana, which connects to the MISO grid. Merom sells two products: accredited capacity (a commitment to provide dispatchable power on demand, which MISO requires all end users to secure) and wholesale energy sold through long-term power purchase agreements (PPAs) and on MISO's spot market. On the coal side, Sunrise mines bituminous coal at its Oaktown Complex in Indiana, roughly 20 miles from Merom, producing approximately 3.7–3.8 million tons annually. Sunrise supplies Merom at essentially at-cost pricing, with the remainder sold to third-party utilities under multi-year contracts. The vertical integration allows Hallador to capture fuel cost advantages on the power side rather than the coal side. Hallador's growth strategy centers on securing a large long-term PPA with a data center developer or utility, leveraging Merom's position as one of the few large-scale dispatchable capacity sources in MISO Zone 6. Hallador is also evaluating gas co-firing at Merom, has applied to add 525 MW of new gas generation at the site, and is actively pursuing acquisitions of additional dispatchable generation assets.