Vistra to shut down Ohio coal plant 5 years ahead of schedule | New
Vistra, Texas’ largest electricity supplier, is ramping up its move away from coal with the earlier-than-expected shutdown of an Ohio power plant.
The Irving-based generator set said on Monday it would shut down Zimmer’s power plant in Moscow, Ohio, by mid-2022, years earlier than the plant’s previously decommissioning deadline. announced from 2027. The shutdown comes after the coal-fired power plant failed to gain capacity. income from the latest auction held in May by regional network operator PJM, which serves parts of the Northeast, Midwest and Mid-Atlantic.
Capacity revenues are essential to Zimmer’s economic functioning, a spokesperson for Vistra said. The plant received approximately $ 47 million for the 2021-2022 planning year.
“Zimmer’s coal-fired power plant has recently experienced economic difficulties due to its configuration, costs and performance,” Vistra CEO Curt Morgan said in a statement. “Revenues from PJM capacity are essential for Zimmer, and unfortunately without them the plant just isn’t making any money.
Vistra initially announced the planned shutdown of Zimmer in September 2020 as part of its plan to pivot to clean power generation sources. The company plans to shut down seven power plants in Illinois and Ohio, including Zimmer, in the coming years. It will also close a factory in Goliad, Texas by the end of 2027.
In April, Vistra announced that it was postponing the closure of the Joppa power plant to September 1, 2022, as part of a settlement agreement with the Sierra Club. The Illinois plant was previously scheduled to close by 2025 at the latest.
The Zimmer site will close on May 31, 2022. Vistra will assess the location for potential investments in renewable energy or battery storage.
Zimmer’s power plant opened in 1991 and employs approximately 150 workers. The site operates with a capacity of 1,300 megawatts.
The plant is not the first to close after the PJM capacity auction in May. Houston-based NRG Energy Inc. in June announced the closure of three plants, two in Illinois and one in Delaware, due to disappointing auction results.
Vistra had a tough few months after the February freeze caused the company $ 1.6 billion in losses. The results of the extreme weather conditions halted progress in an effort to turn the company around after it emerged from a multi-year bankruptcy in 2016.
The company serves nearly 4.3 million electricity and natural gas customers and is the largest competitive power producer in the United States. Vistra has a capacity of around 39,000 megawatts from a portfolio that includes natural gas, nuclear and battery energy storage, and is building a battery energy storage system. in California.
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