Coal Fired Plant Washington
"the presently low price of natural gas has made the price of electricity from a new coal fired generator uncompetitive at this time."
February 20, 2013
Last week Power4Georgians lost a partner who has been the "lead" company in filings concerning Environmental Protection Agency emission regulations. White Stallion Energy announced it was canceling a 1200MW coal plant it proposed in 2008, saying, "the presently low price of natural gas has made the price of electricity from a new coal fired generator uncompetitive at this time."
Not only has White Stallion abandoned its project, it used the very same economic and financial points FACE and our partners have argued in opposing Plant Washington: the market isn't right for new coal. There are other energy resources, including natural gas, solar, and wind, which are cheaper to use. Renewables continue to drop in cost for energy production and their use is increasing. Texas relied on wind power for 20 pecent of its electricity during peak use days last summer. Using other fuels, coupled with low power prices and a surplus of energy on the grid made coal too expensive.
Does Plant Washington have any funding at all now?
July 17, 2012
The Macon Telegraph reporting on Plant Washington and Power4Georgians today raises some interesting questions about the financial viability of the project.
Last week the no-bid developer, Dean Alford, announced that the remaining four EMCs had signed yet another agreement with P4G which releases them from any future financial investments, but which also provides them with, "a preferred position when the plant’s eventual owner sells the power produced."
No details of this closed door agreement have been shared with Washington EMC members yet it could have a direct impact on our future electric bills.
The article states that the phone number for Ryan Taylor, the Georgia registered agent for Taylor Energy Fund, has been disconnected. Taylor's address in Colorado is a post office box. Alford would not provide contact information for Taylor to the Telegraph.
The Telegraph goes on to report that Alford does not know who will finance the plant, contruct it, own it, or operate it. He also said he doesn't know how much more money will be required before financing construction is available.
One point which Alford makes in the Telegraph is that construction must begin by April 2013 due to the carbon pollution rules announced by the Envrionmental Protection Agency. However, the agency has filed legal documents stating that "The Power 4 Georgians’ (“P4G”) Project (Case No. 12-1184): Movants submit a declaration stating that “as of April 9, 2012, P4G has a final PSD permit and all other required permit approvals necessary to commence construction of Plant Washington.” Mot. Ex. H ¶ 5. This assertion is incorrect," (see article on this page titled "Does DC Court ruling put an end to the Coal rush and Plant Washington?)
In other words, when the carbon pollution rule was announced, P4G did not have a final permit, which also means that the likelihood of being a transitional source, i.e. grandfathered in, won't be possible for Plant Washington. That means that the plant would have to be engineered and built to meet carbon pollution controls before they can operate.