Brayton Point Energy LLC, a private equity firm and owner of the Brayton Point coal-fired power plant will have to decide by the end of January if the plant’s retirement, originally scheduled for 2017, will be delayed. On Monday, the power plant owners agreed, in a filing sent to the Federal Energy Regulatory Commission, to notify ISO of its decision by Jan. 29.
ISO New England, the region’s power grid operator designated the plant as a “must run” facility. The operator believes the plant is needed to avoid potential interruptions in power and meet future demand. However, Brayton Point is not required to operate; ISO wants the owners to make a decision so the operator can plan accordingly. ISO is also planning for the retirements of Vermont Yankee nuclear plant and Salem Harbor Power Station, among others.
Bryaton Point is the town’s largest taxpayer, paying out about $7 million this year, according to the Boston Globe.
Increased emission control regulations and the declining price of natural gas has made running a coal-fired facility challenging and costly.
In 2013 Dominion sold three power plants, including Brayton Point, for $472 million. The retirements of those plants were announced within a few months of the purchase.
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