OREANDA-NEWS. September 05, 2016. Dynegy (NYSE:DYN) subsidiary, IPH, LLC (IPH) and AmerenEnergy Medina
Valley Cogen, LLC will file a motion today with the Illinois Pollution
Control Board (IPCB) to terminate the dual variance from the sulfur
dioxide (SO2) annual emission rate limits provided in the
Illinois Multi-Pollutant Standard (MPS). The variance was originally
granted in November 2013 in conjunction with IPH’s purchase of the
Coffeen, Duck Creek, Edwards, Joppa and Newton Power Stations.
IPH has complied with all conditions of the variance, including
retirement of Edwards unit 1 on January 1, 2016. In addition, IPH has
operated in compliance with the SO2 limits in the MPS during
2016.
As previously announced, IPH plans to retire Newton Power Station unit 2
on September 15. This retirement, along with the use of dispatch
management will allow IPH to continue to comply with the SO2
limits in the MPS, thereby eliminating the need for the Variance. The
scrubber construction project at Newton will also be terminated.
The initial variance was requested to allow for energy market conditions
to improve to a point that supports building a scrubber. Additionally,
needed capacity market changes that respect the unique competitive
nature of MISO Zone 4 (Southern Illinois) have not occurred.
Unfortunately, Newton is and will continue to be unable to recover its
basic operating costs, leading to the unit retirement.
IPH appreciates the many employees, union members, local officials,
citizens and business owners who helped the Company obtain the variance
and thanks them for their help in allowing the Company to provide a
positive economic impact in these Illinois communities since 2013.
ABOUT DYNEGY
At Dynegy, we generate more than just power for our customers. We are
committed to being a leader in the electricity sector. Throughout the
Midwest and Northeast, Dynegy operates power generating facilities
capable of producing nearly 26,000 megawatts of electricity—or enough
energy to power about 21 million American homes. We’re proud of what we
do, but it’s about much more than just output. We’re always striving to
generate power safely and responsibly for our wholesale and retail
electricity customers who depend on that energy to grow and thrive.
FORWARD-LOOKING STATEMENT
This press release contains statements reflecting assumptions,
expectations, projections, intentions or beliefs about future events
that are intended as “forward-looking statements” particularly those
statements concerning filing of the motion to terminate the Variance and
future benefits of elimination of the Variance; IPH’s expectations
regarding retirement of the Newton Power Station unit 2; and termination
of the Newton scrubber construction project. Discussion of risks and
uncertainties that could cause actual results to differ materially from
current projections, forecasts, estimates and expectations of IPH is
contained in Dynegy’s filings with the Securities and Exchange
Commission (the “SEC”). Specifically, IPH makes reference to, and
incorporates herein by reference, the section entitled “Risk Factors” in
the Dynegy 2015 Form 10-K and subsequent Form 10-Qs. In addition to the
risks and uncertainties set forth in Dynegy’s SEC filings, the
forward-looking statements described in this press release could be
affected by, among other things, (i) IPH’s anticipated benefits
associated with the termination; (ii) the business of IPH may suffer as
a result of uncertainty surrounding elimination of the Variance; (iii)
the industry may be subject to future regulatory or legislative actions,
including environmental, that could adversely affect IPH; and (iv) IPH
may be adversely affected by other economic, business, and/or
competitive factors. Any or all of these forward-looking statements may
turn out to be wrong. They can be affected by inaccurate assumptions or
by known or unknown risks, uncertainties and other factors, many of
which are beyond IPH’s control.
Комментарии