Three Illinois coal-powered energy plants to close

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CHICAGO (AP) — Dynegy Inc. has announced it will close three of its coal-powered generating plants in southern Illinois that combined generate about 1,834 megawatts of electricity.

Houston-based Dynegy announced Tuesday it will shutter two coal-fired units at its Baldwin Power Station and one coal-fired unit at Newton Power Station over the next year.

Dynegy CEO Robert Flexon said power plants in southern Illinois can’t recover their operating costs. He blamed that on persistently low wholesale power prices and the downstate grid operator’s market design.

Dynegy also says an additional 500 megawatts are targeted for shutdown. Last year, Dynegy announced plans to close its 465-megawatt Wood River station by June 1, with a loss of 90 jobs.

Dynegy Inc. on Tuesday reported a loss of $10 million on first-quarter revenues of $1.12 billion.