It's Great to Have a Job...Unless You Work at a Power Plant in Pennsylvania, Ohio, or New Jersey
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Yesterday, GenOn Energy, the third-largest U.S. independent power producer, announced they were shutting down power plants, because "forecasted returns on investments necessary to comply with environmental regulations are insufficient." That's financial-speak for "Regulations make it too costly to keep them running."
Shutdowns will begin in June at the units, which don’t generate enough profit to cover the costs of complying with the rules, Houston-based GenOn said today in a statement. The plants, located at eight sites in Pennsylvania, Ohio and New Jersey, generate 3,140 megawatts in the wholesale market overseen by PJM Interconnection. Except for one unit, all of the plants burn coal, according to GenOn’s website.
Jeff Ostermayer at Shopfloor.org reminds us that "These closings will again result in the loss of jobs and have a negative impact on the local communities. Often we forget about the ripple effect of these regulations and how it can impact a small town and community."
That's illustrated with the news of the Upper Mount Bethel Township power plant closing in Pennsylvania. Local offical Ron Karasek said, "It would appear to be a significant blow to the township's economy," and former Northampton County Councilman Ron Angle added, "It's provided a lot of good-paying jobs for many people through the years."