Texas Coal Plant at Risk of Shutdown Has Lost Half Its Appraised Value

first_imgTexas Coal Plant at Risk of Shutdown Has Lost Half Its Appraised Value FacebookTwitterLinkedInEmailPrint分享Goliad (Texas) Advance Guard:The merger announcement Oct. 30 between Coleto Creek Power Plant owner Dynegy and the Vistra company has raised questions about the future of the plant.Fears that it might be sold, closed – or both – stem from Vistra’s history of closing its coal-powered power plants.Seventeen days before the two companies announced their intention to merge, Vistra announced it was closing three of its coal-powered plants – in Austin, Houston and East Texas.Vistra CEO Curt Morgan reportedly blamed the decision on wholesale power prices, an oversupply of renewable generation and low natural gas prices.Analysts note the difficulty in today’s wind-farm and solar-panel environment for any coal-powered plant to see a profit.Earlier this year, in a research analysis entitled “The Beginning of the End,” The Institute for Energy Economics and Financial Analysis (IEEFA) noted that “Fundamental changes in the Texas electricity market are putting coal-fired power plants under increasing economic and financial stress, including:Natural gas becoming competitive because of its price collapse.Increased competition from wind- and solar-generating facilities.New public and environmental regulations.“These circumstances,” the report says, “have combined to undermine the profitability of the companies and public power utilities and power agencies which own coal-fired power plants.”The Coleto Creek plant is among seven coal-fired plants in Texas the IEEFA lists as “at risk.”Miller notes that since 2007, “we have seen a general decline in the value of the power plant.”In 2006, the appraised value was $290,468,000. In 2018, the value is $155,000,000 – a drop of 47 percent.Should the plant close, Miller says, the immediate effect would be a loss of $3.4 million to that tax base.Broken down, the loss to the county would be $1.2 million, and to Goliad Independent School District, $1.9 million.“The loss of the plant would have serious repercussions for the community as a whole,” Miller says. “Some serious choices would have to be made. Many don’t realize that Coleto Creek is an integral part of the community.”Nothing immediate is expected because the planned merger is not expected to be finalized until spring, if then.More: No change to power plant status until springlast_img read more

Shanghai announces ‘one-dog policy’

first_img Share 108 Views   no discussions Share Sharing is caring! Tweet News Shanghai announces ‘one-dog policy’ by: – February 24, 2011 By Chris Hogg BBC News, Shanghai Once banned by for being a ‘bourgeois decadence’, keeping a pet dog is now seen as trendyThe Chinese city of Shanghai has announced a new rule modelled on the country’s one-child policy.From May a one-dog policy will be introduced, and more than 600,000 unlicensed dogs will be declared illegal.The new regulation has been the subject of long and heated debate among the city’s lawmakers.Last year more than 140,000 people told police they had been bitten by an unlicensed dog.There are four times as many dogs without the proper paperwork in Shanghai as there are animals with a permit.Pooch permitsThe new rule means owners whose dogs are not registered with the authorities will have to give them away.Those who already have two licensed dogs will be able to keep them, but only new applications from households without hounds will be accepted.Of course, this being China, people will no doubt find a way to get around the rules.When restrictions on the numbers of homes families could own here were introduced to try to slow the rise in house prices, there were reports of couples getting divorced but still living together just so they could buy more properties.The police say they are expecting they will have to adopt many of the dogs once they are declared outlaws.They are also banning the keeping of what they call “attack dogs”.British bulldogs are among those that will not be welcome here under the new rules. Sharelast_img read more