Investor Alert

Aug. 21, 2019, 8:38 a.m. EDT

Vistra Energy to retire four power plants in Illinois at cost of 300 jobs

Vistra Energy Corp. (NYS:VST) said Wednesday it is planning to retire four power plants in Illinois at the cost of about 300 jobs. Irving, Texas-based Vistra said the decision was made to meet the requirements of the approved revisiosn to the Multi-Pollutant Standard rule imposed by the Illinois Pollution Control Board (IPCB). "Without this rule change, the company's entire downstate fleet was at risk of near imminent retirement," the company said in a statement. The affected four coal-fueled power plants are the Coffeen Power Plant, Duck Creek Power Plant (in Canton), Havana Power Plant, and Hennepin Power Plant. The comopany will focus on its remaining business, while making the shift to a sustainable business including newer, greener technologies. "Vistra is hopeful that the Illinois General Assembly will take up the Coal to Solar and Energy Storage Act during its fall Veto Session," said the statement. Vistra shares were not yet active premarket, but have gained 4% in 2019, while the S&P 500 (S&P:SPX) has gained 16%.

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