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Coal-Fired Generation at the Intermountain Power Project to End in 2025

LCG, May 25, 2017--The owners of the Intermountain Power Project announced on May 23 that they will cease electricity generation fueled by coal in 2025. The decision is driven by the loss of existing customers, environmental regulatory issues, and competition from both gas-fired generation that benefits from low natural gas prices and growing renewable (wind and solar) capacity supported by state renewable portfolio standards (RPS???s).

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DONG Energy Announces Opening of the Burbo Bank Extension Project with 8-MW Offshore Wind Turbines

LCG, May 23, 2017--The Burbo Bank Extension Project, a new offshore wind farm in Liverpool Bay, UK, opened on May 17 and became the first offshore wind farm to make commercial use of the MHI Vestas V164-8.0 MW wind turbines. The wind farm is a joint venture between DONG Energy (50%) and its partners PKA (25%) and KIRKBI A/S, parent company of the LEGO Group (25%).

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Industry News

FirstEnergy Pursues State Legislation to Support Nuclear Plants in Ohio

LCG, February 24, 2017--FirstEnergy Corp. is pursuing legislation in Ohio to provide financial support to its two nuclear power plants, Davis-Besse and Perry, through a zero emission credits (ZECs) program. The financial support is sought to avoid premature retirement of the carbon-free electric generating facilities that have a combined capacity of 2,176 MW.

On Wednesday, FirstEnergy's president and chief executive officer stated, "We continue to assess and evaluate a number of strategic alternatives for our companies - for our competitive business, including asset sales, legislative or regulatory initiatives for generation that recognizes environmental or energy security benefits, alternatives for our retail business and financial restructuring."

Last year, state legislation with ZEC programs was passed in Illinois and New York to provide financial support and avoid early retirement of nuclear plants located in those states. The nuclear power plants are challenged to compete in a market with a growing number of combined-cycle plants fueled by low-cost natural gas. Furthermore, aggressive state renewable portfolio standards drive significant new installations of wind and solar capacity that reduce the net electricity load and dampen wholesale power prices. The New York Clean Energy Plan goal is 50 percent renewable energy by 2030, and the Illinois Renewables Portfolio Standard goal is 25 percent for 2026. In addition to providing clean energy with no carbon dioxide or other air emissions, the number of employees at the nuclear plants and the associated plant property taxes are a significant benefit to the counties in which the plants are located.
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