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Report claims that Bridgeport Harbor coal unit is uneconomic

January 24, 2014


By Barry Cassell, Generation Hub – Group says PSEG should look at retiring one of the last New England coal units

“A new report cautions that Public Service Enterprise Group’s (NYSE: PEG) Bridgeport Harbor Unit 3 – the last coal-fired power facility in Connecticut and one of the few remaining such facilities in New England – has been in deep financial trouble since 2009, and is unlikely to be financially viable for the long-term.

The report, released Jan. 23, is from the independent and nonprofit Institute for Energy Economics and Financial Analysis (IEEFA). The institute said the report is intended to help policymakers and residents near Bridgeport Harbor Unit 3 understand the need to start planning now for the retirement of this facility.

The IEEFA report said that Bridgeport Harbor Unit 3 has been buffeted for years by the same economic pressures – low natural gas prices, low market prices, and flat or declining electricity demands – that have led to the retirement of more than 13,000 MW of the country’s coal-fired power plant fleet from 2009-2012.”

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