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Institute for Energy Economics and Financial Analysis <br />The Institute For Energy Economics and Financial Analysis (IEEFA) conducts research and analyses <br />on financial and economic issues related to energy and the environment. The Institute's mission is <br />to accelerate the transition to a diverse, sustainable and profitable energy economy and to <br />reduce dependence on coal and other non-renewable energy resources. More can be found at <br />www.ieefa.org <br />About the Authors <br />Tom Sanzillo, Director of Finance, IEEFA <br />Tom Sanzillo is the author of several studies on coal plants, rate impacts, credit analyses, and <br />public and private financial structures for the coal industry. He has testified as an expert <br />witness, taught energy -industry finance training sessions, and is quoted frequently by the <br />media. Sanzillo has 17 years of experience with the City and the State of New York in various <br />senior financial and policy management positions. He is a former first deputy comptroller for <br />the State of New York, where he oversaw the finances of 1,300 units of local government, the <br />annual management of 44,000 government contracts, and where he had oversight of over <br />$200 billion in state and local municipal bond programs and a $156 billion pension fund. <br />Sanzillo recently contributed a chapter to the Oxford Handbook of New York State <br />Government and Politics on the New York State Comptroller's Office. <br />Tim Buckley, Director of Energy Finance Studies, Australasia <br />Tim Buckley has 25 years of financial market experience covering the Australian, Asian and <br />global equity markets from both a buy and sell side perspective. Tim was a top rated Equity <br />Research Analyst and has covered most sectors of the Australian economy. Tim was a <br />Managing Director, Head of Equity Research at Citigroup for many years, as well as co - <br />Managing Director of Arkx Investment Management P/L, a global listed clean energy <br />investment company that was jointly owned by management and Westpac Banking Group. <br />Clark Williams -Derry, Senior Researcher, Sightline Institute <br />Clark Wiliams-Derry directs research and communications programs for the Sightline Institute, <br />based in Seattle. Williams -Derry's work covers a wide range of topics, including climate and <br />energy policy sustainable transportation, and mapping and analyzing urban sprawl. He is a <br />speaker, writer, consultant, and media spokesperson on sustainability topics. He graduated <br />from Yale University in 1989 with a joint degree in mathematics and philosophy. <br />Peabody's Strategies for Survival Ignore Market Realities and Risk Backfiring 21 <br />