Dynegy Inc. (NYSE: DYN) is retiring its coal-fired, 465-MW Wood River power plant in Illinois as of June 1, said the company.
The closure and any grid reliability impacts related to it have been approved by the Midcontinent ISO. Dynegy spokesman David Onufer said June 1 that as of that day, Wood River would no longer deliver power to the grid. Obviously, activity at the plant would continue beyond that point as the facility is retired, he added.
Dynegy had announced on May 3 that it plans to shut down other Illinois coal-fueled units after they once again failed to recover their basic operating costs in the most recent MISO capacity auction. Units 1 and 3 at the Baldwin Power Station and Unit 2 at the Newton Power Station are expected to shut down operations (but not be officially retired) over the next year. In total, Dynegy is requesting that the Midcontinent ISO remove 1,835 MW from MISO Zone 4. An additional 500 MW are targeted for shutdown, and a final determination is likely later this year.
Earlier this year, Dynegy announced that Wood River would retire in June for similar reasons related to sub-par capacity payments out of the MISO market. Dynegy is backing a bill in the Illinois legislature to get its plants in southern Illinois moved from MISO into the PJM Interconnection market, which currently covers northern Illinois. Dynegy says PJM markets offer better returns.