No Account Yet?
Home Latest Updates Coal Block News
Coal Block News
Press Release on the Dynegy Sandy Creek Plant and Financial Analysis

View a PDF of the press release HERE.

 

 

For Immediate Release:            Contact: Tom Sanzillo This e-mail address is being protected from spambots, you need JavaScript enabled to view it (518) 505-1186

May 21, 2009                          Ryan Rittenhouse This e-mail address is being protected from spambots, you need JavaScript enabled to view it (512) 477-1155

                                           

Public Citizen Urges Dynegy Shareholders to Pull Out of Coal Projects

 New Analysis Outlines Grave Financial Risk of Sandy Creek Coal Plant

 

AUSTIN – Public Citizen and other environmental groups urge Dynegy shareholders at their annual shareholder meeting this Friday in Houston to send a clear message to the board that they don’t want the Sandy Creek coal-fired power plant, located in Riesel, southeast of Waco, to be built.  Dynegy has pulled out of many similar ventures to build new coal plants but has not yet cancelled its plans to invest in Sandy Creek, of which it is a 32 percent owner.

Activist groups are releasing a report today that should lead shareholders to question Dynegy’s financial ability to build new coal-fired power plants. 

“Dynegy’s recent actions indicate that corporate executives know building new coal plants is an unnecessary financial risk, yet they keep developing the Sandy Creek plant. It just doesn’t make sense,” said Tom Smith, director of Public Citizen’s Texas office. 

Dynegy recently dissolved its joint venture with LS Power to develop its “greenfield” projects – new coal-fired power facilities – in Arkansas, Georgia, Iowa, Michigan and Nevada. It also pulled out of the “Plum Point” coal plant in Arkansas, in which it was a 20 percent owner.  

Public Citizen, Sierra Club, The SEED Coalition and Green America recently released an analysis conducted by Tom Sanzillo of TR Rose Associates on the financial risks that Dynegy’s continued investment in the Sandy Creek coal plant poses for the company. Although the most prominent risk is impending carbon legislation from the federal government, others include: the increasing costs of construction, decreasing electric rates in Texas, lower prices of natural gas, deteriorating credit ratings, and the credibility and financial stability of investment partners (including coops). Sanzillo sums it up perfectly: “The general question is: Why was the Sandy Creek plant any less of a financial risk than the six plants that were abandoned?”

“Dynegy was the largest developer of new coal-fired power plants in the country, so its decision this January to drop five planned coal plants signals a major step toward a clean energy future,” said Neil Carman, Clean Air Program director for the Lone Star Chapter of the Sierra Club.  “The construction of another coal-fired power plant such as Sandy Creek would be a giant step backward toward dirty air and global warming. We encourage all utilities to abandon their dirty plans for coal plants and to invest instead in clean energy solutions such as efficiency and renewables.”

Read more...
 
Foolish Fuels: On April 1st, Groups Say Coal is No Joke
ppcoalThis April Fools, groups in Boston, New Orleans, Berkeley, Kentucky – and even London – are celebrating “Fossil Fool’s Day” by calling attention to the most foolish fuel there is: coal.  Some will rally, some will march, and others will even juggle in the Boston “Coal Circus” or in the Middlebury, Vermont “Cirque du Coal-ay.” 

 

The day’s events are connected through Power Past Coal (www.powerpastcoal.org), a national project linking together an action or more a day for the first hundred days of Obama’s presidency.  The project’s first seventy-seven days have seen over 130 actions in all fifty states, each demanding that the President and new Congress lead a just and swift transition away from coal.

 

fossilfools“We need to make our leaders realize that all coal is foolish, especially clean coal,” said Ted Glick, of the Chesapeake Climate Action Network, whose work has focused on the promotion of clean, just energy alternatives to coal in places like Wise County, Virginia, where the Wise Energy Alliance is protesting Dominion Power Company’s proposed coal plant.  Fossil Fools Day events in Denver similarly target the operating Cherokee Coal Plant, which releases toxic pollutants daily into local residents’ backyards. 


In New Orleans, conservation groups, students, and concerned citizens are joining forces at Entergy’s headquarters to protest the company’s plans to expand their use of coal power in Louisiana.  “Louisiana’s coast is ground zero for climate change impacts,” said rally organizer Jonathan Henderson.  “Entergy should be a responsible neighbor and work to limit coast-destroying pollution and protect rate-payers from future carbon price increases.

 

In the spirit of the “Coal Circus,” students from Bowling Green, Kentucky are planning a Monster Mash and a critical mass bike ride.   Berkeley, California residents will also hop on their bikes to “reclaim the streets” from car-driving fossil fools, as will students in Tempe, Arizona, who have declared themselves “too cool for fossil fools.”

 

Despite the lighthearted nature of the events, participants know that coal is not a joke.  Many come from communities impacted daily by coal extraction, burning, and waste disposal.  As President Obama’s 100th day rapidly approaches, thousands of citizens across the country are taking action to draw urgent attention to the need for “power past coal.”  See www.powerpastcoal.org for more information. 

 
Ruling: Coal Plants Must Limit C02

Original Story from Sierra Club.Deseret Coal Plant

November 13, 2008

In a move that signals the start of the our clean energy future,  the Environmental Protection Agency’s Environmental Appeals Board (EAB) ruled today EPA had no valid reason for refusing to limit from new coal-fired power plants the carbon dioxide emissions that cause global warming.  The decision means that all new and proposed coal plants nationwide must go back and address their carbon dioxide emissions.

“Today’s decision opens the way for meaningful action to fight global warming and is a major step in bringing about a clean energy economy,” said Joanne Spalding, Sierra Club Senior Attorney who argued the case. “This is one more sign that we must begin repowering,  refueling and rebuilding America.”

“The EAB rejected every Bush Administration excuse for failing to regulate the largest source of greenhouse gases in the United States.  This decision gives the Obama Administration a clean slate to begin building our clean energy economy for the 21st century,” continued Spalding

The decision follows a 2007 Supreme Court ruling recognizing carbon dioxide, the principle source of global warming, is a pollutant under the federal Clean Air Act.

Read more...
 
Fighting Goliath Comes to South Texas

fgThe film Fighting Goliath: Texas Coal Wars will be coming to South Texas the week of November 10, 2008.

On Tuesday, November 11, the film will be shown in Corpus Christi at the Progressive Center, 413 Waco St. across from the Nueces County Court House.

The screening will begin at 6:30pm.

On Wednesday, November 12, the film will be shown outside Victoria at the Reeves Ranch, on Reeves Ranch Park Rd.

The screening will begin at 7:00pm.

Following both screenings will be a panel discussion with experts and local community leaders to discuss next steps and to answer questions from the audience.

For more information stay tuned to CoalBlock.org or contact us.

You can also keep updated at the local group webpages:

Clean Economy Coalition in Corpus Christi:

CleanEnergyCorpus.org

and Citizens for a Clean Environment:

CleanEnergyVictoria.org

 

 

 
Austin Film Premier, Fighting Goliath, Takes On Coal Plants, Stars Texas

FOR IMMEDIATE RELEASE                                 Media Contacts: Anna Pierce, 214.212.1033

October 14, 2008                                                                   Jill Tidman, 415.260.8438

Austin, TX—The documentary film, Fighting Goliath: Texas Coal Wars, will have its Austin premier at University of Texas, Austin’s Thompson Conference Center on Thursday, October 23, 2008. The 34-minute film screening will be followed by an open panel discussion with local politicians, energy experts, and students.

ReEnergize Texas, a UT student group, is arranging the screening as part of their Power Vote campaign.  Power Vote is a national student campaign to engage political candidates on climate change by building a voting block of 1,000,000 people for clean energy.

“Our political leadership needs to understand that addressing climate change presents a great economic opportunity for Texas,” says Patrick Meaney, co-president of ReEnergize Texas. “This event will educate voters on the importance of our energy future and help them vote for clean energy candidates.”

Fighting Goliath was produced by The Redford Center at the Sundance Preserve and Austin-based Alpheus Media with the goal of boosting awareness of and engagement in the global battle against conventional coal-fired power plants.

“The heart of this film is really about issues of health, future generations and the value of our own land and resources. The film was made to support the story of the Texas coalition and their struggle against a giant power company. It is our way of giving other states and communities a model for what can happen when people take personal responsibility and get results. We want to let people know that they don't have to give up hope,” says Robert Redford, who also narrates the film.

Read more...
 
<< Start < Prev 1 2 Next > End >>

Page 1 of 2
Public CitizenThis site is Green