Hallador Energy Company operates as a vertically integrated independent power producer serving the Midwest regional power grid. The company's business is divided into two core segments: Hallador Power Company and Sunrise Coal. Hallador Power operates the 1-gigawatt Merom Generating Station in Sullivan County, Indiana, providing dispatchable electricity and capacity to wholesale markets, utilities, and cooperatives. Sunrise Coal, Indiana's third-largest coal producer, operates underground and surface mines in the Illinois Basin, supplying thermal coal primarily to fuel the Merom plant as well as third-party customers. Founded in 1951 as an oil and gas explorer before pivoting to coal, Hallador transformed its business model in 2022 by acquiring the Merom facility, shifting its primary revenue source from coal production to electric generation.
