LS Power said today that Ohio nuclear subsidy legislation, "will force cancellation of its troy generating facility expansion"

LS Power said, "LS Power is opposed to House Bill 6 and the handouts for Ohio nuclear plants currently being considered in the Ohio Senate as they increase costs, reward inefficiency, place other generators at a disadvantage and undermine Ohio's successful competitive market."

LS Power said, "The handouts to nuclear plants jeopardize the economics of the other already economic generators, including the Troy facility, which could chill investment and lead to the unintended consequence of reduced reliability for Ohio's electric generation fleet. In light of the harmful impacts that the nuclear handouts will have on the market and generators like Troy, LS Power would be forced to terminate development of the Troy expansion project if nuclear handouts are passed by the Ohio legislature."

LS Power currently owns the 700 MW dual-fuel simple cycle Troy Generating Facility located in Luckey, OH.

LS Power is developing an expansion project at the Troy facility to increase the plant's output by approximately 500 MW while also increasing its efficiency by converting it to combined cycle. The project is estimated to require an investment in excess of $500 million

"LS Power's investment in Ohio was driven by the PJM market's transparency and competitive attributes and the supportive business climate in Ohio, all of which have resulted in declining energy costs for individuals and businesses in the state," LS Power said

"LS Power encourages the Ohio Senate to continue to support the successful competitive electricity market in Ohio, fully consider the negative impacts of House Bill 6 on consumers in Ohio and exercise prudence in the face of the unnecessary request for $150 million per year in handouts for the Ohio nuclear plants," LS Power said

Tags:
Ohio   Nuclear   LS Power  

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