Illinois Pollution Control Board to Hear Dynegy’s Request to Not Comply with Illinois Clean Air Law until 2020 In Gamble on Future Energy Markets
WHAT: On Thursday, ACM Partners, an independent financial analyst, will release the findings of a report on the pending no-cash sale of five central and southern Illinois coal-fired power plants from Ameren to Dynegy, a Texas-based energy company. The independent analysis found that Dynegy is preparing for the high risk of the purchase by creating an unfunded shell company to operate the coal plants locally. This shell company will not have the capital needed to install vital sulfur dioxide pollution controls or deal with daily maintenance and operation issues.
This model protects the profits of polluters like Dynegy, while forcing Illinois communities to bear the risk when the financial model fails.
Despite Dynegy’s financial resources, its shell company Illinois Power Holdings, is asking the Illinois Pollution Control Board for more time to comply with state clean air standards at the coal plants due to financial hardship. This financial hardship, however, is self-imposed, as Dynegy has the resources to properly fund its shell company.
Dynegy is hinging the final purchase of Ameren’s plants on whether Illinois Pollution Control Board will give the company more time to comply with vital state clean air standards, exposing Illinois residents to dangerous sulfur dioxide pollution for years to come.
The financial report author, Illinois energy experts from the Sierra Club and Environmental Law & Policy Center and a resident from an affected community will be available on a telepresser the morning of September 12 to discuss the report and urge the Illinois Pollution Control Board to deny Dynegy’s out-of-line request to the Board.
WHEN:
Thursday, September 12 at 10:30 AM CST
DIAL-IN: Phone: 866-952-1907 – Passcode: DYNEGY (spoken to operator)
WHO:
David Johnson, Financial Expert and Report Author, ACM Partners
Kady McFadden, Field Organizer with the Sierra Club Beyond Coal campaign
Andrew Armstrong, Attorney with Environmental Law & Policy Center
Joyce Blumenshine, Peoria Resident