Statement on Midwest Generation’s Bankruptcy

STATEMENT OF HOWARD A. LEARNER

EXECUTIVE DIRECTOR, ENVIRONMENTAL LAW & POLICY CENTER

ON

MIDWEST GENERATION’S BANKRUPTCY FILING

(DECEMBER 17, 2012)

“Midwest Generation has failed to succeed in the competitive Illinois electricity power market.  It has been outcompeted on price by Exelon’s nuclear plants, new wind power farms and natural gas plants.  While other coal plant owners such as Dynegy have modernized their plants, Midwest Generation lags behind.”

 

“Low wholesale electricity prices are good for Illinois residential and business consumers as the competitive power market separates out power plant winners and losers.  When Midwest Generation was profiting while wholesale electricity market prices were high, it sent dividends to its parent company in California; now, while wholesale market prices are low, the California-based parent has not supported Midwest Generation and has helped to trigger the bankruptcy.”

 

“We regret the impacts on Illinois workers and communities where Midwest Generation’s coal plants are located.  We will engage to make sure that if these old highly-polluting coal plants continue to operate, that they are cleaned up with the installation of modern pollution control equipment.”

 

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