news by location
Banks stymie state efforts to collect on mine-cleanup bonds
Cleanup efforts around an Illinois coal mine that closed in 1989 have been stymied by restoration bond guarantees tangled in red tape. The case is similar to others across the U.S. in which mergers of banks have created executive ranks reluctant to honor mine-cleanup assurances. “Failures in the system mean that bond money is sometimes nowhere to be found when it’s needed. In several instances in recent years, banks holding bonds in the form of letters of credit or certificates of deposit have fought back when states sought to collect on them.”
Midwest receives greater transition focus
JTF, long active in Appalachia and in the Powder River Basin of Wyoming and Montana, sees the Illinois Basin, which underlies much of the state, as an area of growing need. “It’s important to note that what a just transition looks like is different in different places,” said Heidi Binko, JTF’s executive director.
Court Settlement Marks End of the Road for Chicago-Area Coal Plants
A federal court settlement in Illinois closes the case on six coal-fired plants in the Chicago area that are slated to shut down or switch to natural gas. The case is of note in part because of the Trump administration’s acquiescence to the agreement. “I don't believe (coal) is going to have a renaissance," said one utility executive. "I think it's on its way out."
Analysis: Closure of 8 Failing Coal Plants Would Not Affect Illinois Power Grid
Continuing to subsidize eight struggling coal-fired power plants in Illinois makes no sense, concludes two researchers at the National Resource Defense Council: “Dynegy-Vistra has contrived a problem that does not exist, arguing that if its coal plants closed, electricity supply in Central and Southern Illinois would be in jeopardy and the likelihood of power outages would significantly increase. That’s simply not true.”
In $100 Million Deal, Developer Will Replace Chicago Coal Plant With Online-Shopper Warehouses
The site of a Chicago coal-fired power plant that was shuttered in 2014 has been sold to a development company that plans to spend $100 million to turn the 70-acre location into a warehouse complex for online shoppers. Crawford Power Generating Station, which opened in the 1920s, was one of the last two coal-fired plants in Chicago at the time of its closure.