August 27, 2015 Read More →

SNL: IEEFA Study Foretold of New York Coal-Fired Plant’s Demise

Matthew Bandyk for SNL:

More than a year ago, a study predicted the plant’s demise, saying that it would continue to lose money for the foreseeable future because power prices would not recover enough to bring the plant back into the money given rising costs of its Powder River Basin coal fuel.

The study came from the Institute for Energy Economics and Financial Analysis, a research group that often consults with environmental groups and has a stated mission “to reduce dependence on coal and other non-renewable energy resources.”

Cathy Kunkel, an author of the study, said it is not surprising that converting to gas was not economically feasible for Huntley because switching fuels would not get around how it is “a very old and inefficient plant.”

Market conditions prompt NRG to retire 380-MW NY coal plant ($)

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