Hallador Energy Company (Nasdaq: HNRG) has outlined its strategy to expand margins by advancing its products up the value chain, following its acquisition of the Merom power plant and its interconnection. The company is negotiating long-term power purchase agreements with utilities and data center developers to further enhance its wholesale electricity business. Sunrise Coal, LLC, Hallador's primary fuel supplier, is expected to produce approximately 3.7 million tons of coal in 2025, after selling 3.9 million tons in 2024. Hallador reports a forward contracted sales book of approximately $1.3 billion as of September 30, 2025, with higher average megawatt-hour prices for future sales as legacy contracts expire after 2025. The company also notes increasing opportunities to reprice revenue at higher margins beginning in 2027 due to a more open contract position. The current energy market, characterized by high demand growth and tightening supply of dispatchable capacity, is influencing the value of Hallador's existing infrastructure and generation assets. You can access the full presentation through the link below.