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Owner of Joliet Coal Plant Could Face Bankruptcy

Midwest Generation could default on its lease for the Joliet coal power station and may need to file for bankruptcy protection.

Midwest Generation, with coal-powered electric stations in , unicorporated and elsewhere in the state, may be forced to file for bankruptcy protection, a published report said Tuesday.

The company, which is owned by Edison International, is in danger of defaulting on its lease for the Joliet and Powerton sites and might not have enough money to repay a $500 million debt that's due in June 2013, according to a story in the Chicago Tribune.

The scenario is made worse by the depressed price for power and the high cost of environmental upgrades being required by the government, the story said.

To read the entire report, click here.

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Infamous Steve August 01, 2012 at 03:58 PM
I hope they have to shutdown these pollution factories. Plenty of other ways to get power that don't require you to spew carbon into the air.

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