Thu, Nov 20, 2014, 9:51 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u Feb 15, 2013 6:38 PM Flag

    San Juan Generating Station will shut down two coal units in deal with EPA

    San Juan Generating Station will shut down two coal units in deal with EPA

    February 15th, 2013 | Add a Comment

    The coal-fired San Juan Generating Station will shut down two of the plant’s four units by 2017 in a deal reached with the Environmental Protection Agency, the Albuquerque Journal reported.

    The New Mexico Environment Department also issued a press release.

    At issue was pollution from the large coal-fired power plant and the insistence of power plant operator Public Service Company of New Mexico that putting proper controls on the power plant would be too costly.

    In the deal, the two coal-fired units would be replaced with natural gas units which would put off less pollution.

    The deal allows the other two coal-fired units to operate indefinitely with less expensive pollution controls — using selective non-catalytic reduction technology. This type of technology that is designed to lessen nitrogen oxide emissions was part of a negotiated deal between the state of New Mexico and the power plant.

    The AP also reports:
    PNM, 46 percent owner of the 1,800-megawatt plant, estimates its share of the capital costs under the settlement would be $400 million to $430 million. It says ratepayers would not see an immediate impact on their bills.
    In addition, PNM agreed to no layoffs due to the units’ closures and will provide more than $1 million for job retraining and economic development in the Four Corners area.

    At issue was the Clean Air Act, which requires the “best available retrofit technology” be used to reduce pollution. Public Service Company of New Mexico said this would cost $750 million — too expensive to keep the Four Corners area power plant running.

    According to a Sierra Club fact sheet, “SJGS is the second-largest source of air pollution in New Mexico after the nearby Four Corners power plant.”

    Gov. Susana Martinez hailed the settlement as a victory.

    “All along, our goal has been to strike the right balance between the environmental and economic impacts of energy production in the Four Corners,” said Martinez in a statement. “We worked hard to craft a reasonable solution that would improve air quality, conserve New Mexico’s precious water resources, avoid an extremely burdensome rate hike on consumers, protect jobs in northwestern New Mexico, transition away from coal and toward New Mexico natural gas, and position the state to take full advantage of exciting new economic development opportunities in the Mancos Shale. This compromise is a reasonable step forward to achieving all of those goals.”

    Navajo Nation president Ben Shelly weighed in as well.

    “I support the most recent terms that the State of New Mexico has agreed to work on with EPA to address Best Achievable Retrofit Technology (BART) for the San Juan Generating Station. I have continued to support the multi-faceted efforts of New Mexico to acquire the most effective agreement with the EPA for meeting BART,” said Shelly in the press release from the New Mexico Environment Department.

    Photo by dsearls/Flickr

95.82+0.21(+0.22%)Nov 20 4:00 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Aruba Networks, Inc.
NasdaqGSThu, Nov 20, 2014 4:00 PM EST
Foot Locker, Inc.
NYSEThu, Nov 20, 2014 4:02 PM EST
Intel Corporation
NasdaqGSThu, Nov 20, 2014 4:00 PM EST