skip to main content
skip to newscasts

Thursday, May 16, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Cohen back on the hot seat in NY Trump trial; GOP threatens rural Republicans for school voucher opposition; mushrooms can help prevent mega-wildfires; Many outdoor events planned in CA for Endangered Species Day.

view newscast page
play newscast audioPlay

Speaker of the House Johnson calls the Trump trial 'a sham', federal officials are gathering information about how AI could impact the 2024 election, and, preliminary information shows what could have caused the Francis Scott Key Bridge crash.

view newscast page
play newscast audioPlay

Americans are buying up rubber ducks ahead of Memorial Day, Nebraskans who want residential solar have a new lifeline, seven community colleges are working to provide students with a better experience, and Mississippi's "Big Muddy" gets restoration help.

Report examines private-equity power plants, growing risks for communities

play audio
Play

Friday, December 29, 2023   

Pennsylvania communities could be hit hard by rising financial uncertainty in the country's biggest electricity market, according to three new reports.

PJM Interconnection includes Pennsylvania and a dozen other states.

According to the Institute for Energy Economics and Financial Analysis, private equity and private capital-owned power plants in the PJM face financial struggles that have recently resulted in shutdowns.

This Report's Author and Institute Energy Analyst Dennis Wamsted said it reveals that private-equity generators have the ability to close a plant on short notice, leaving communities that are not prepared to deal with the economic fallout from job and tax loss.

"Now is the time for local politicians, county politician, state politicians to be planning for this transition," said Wamsted. "There are opportunities out there. There is a great deal of federal money now available for transition activities, both for workforce transition and for rebuilding existing facilities."

Wamsted offered an example of a coal-fired power plant in Homer City, Pennsylvania, which recently closed because of ongoing financial trouble.

He said the Conemaugh and Keystone plants - which are close to Homer City - are facing a serious five-year deadline for some environmental compliance issues for pollution.

Wamsted said it's important for the state to acknowledge and figure out once plants close what's the best way to go about reusing and replacing those facilities.

He added that decisions have to be made at the local level with community input and collaborating with help from the plant owners.

"We as a locality can propose to the Department of Energy that we reused this as a solar facility and put in a battery storage unit," said Wamsted. "And it may not end up with exactly the same number of jobs, but may end up with different skilled jobs."

Wamsted's noted that together, the three reports sound the alarm on escalating risks for fossil-fuel plant owners, investors and the latest on communities.

He acknowledged that Pennsylvania's faces transitional challenges but highlighted that available funding through the Inflation Reduction Act and support is contingent on proactive planning.



Disclosure: Institute for Energy Economics and Financial Analysis contributes to our fund for reporting on Budget Policy & Priorities, Energy Policy, Environment, Urban Planning/Transportation. If you would like to help support news in the public interest, click here.


get more stories like this via email
more stories
Vose Elementary is unique as a 750-student preschool through sixth-grade Spanish dual-immersion school focused on playful inquiry and habits of mind. (Adobe Stock)

Social Issues

play sound

The Beaverton School District is blazing a trail in early education through bilingual learning labs, which emphasize playful inquiry and habits of …


Social Issues

play sound

Massachusetts residents struggling to pay high food prices are acquiring a growing amount of debt to pay their bills, according to a new report…

Health and Wellness

play sound

The number of avian flu cases in dairy cows is holding steady in New Mexico but experts say more testing is needed to prevent its spread and protect h…


Feeding America's Map the Meal Gap study is the only one providing local-level estimates of food insecurity and costs for every county and congressional district. (disha1980/Adobe Stock)

Social Issues

play sound

Texas leads the nation in food insecurity. According to the latest "Map the Meal Gap" study, from Feeding America, nearly 5 million people in the …

Social Issues

play sound

Minnesota is moving closer to ensure all workers are eligible for the state's minimum wage of $10.85 an hour. The Legislature has been taking action …

Fungal decay and fire both break down hydrogen and carbon bonds, a process that releases energy. But while fire releases heat, mushrooms absorb that energy like people do when digesting food. (Adobe Stock)

Environment

play sound

By Stephen Robert Miller for the Food and Environment Reporting Network.Broadcast version by Eric Galatas for Colorado News Connection reporting for t…

Social Issues

play sound

In a blow to free speech and the right to assemble, the U.S. Supreme Court recently declined to hear a case involving the rights of protest …

Social Issues

play sound

Veterans in North Carolina are in desperate need of reliable transportation and the Veterans Affairs Volunteer Transportation Network is reaching out …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021