Ill. Senate rejects Tenaska Taylorville coal plant

NEW YORK, Jan 12 (BestGrowthStock) – The Illinois Senate on
Wednesday rejected Tenaska’s proposed $3.5 billion Taylorville
coal-to-gas-fired power plant, a spokesman for Tenaska told
Reuters Wednesday.

The project required state approval because Tenaska, of
Omaha, Nebraska, was seeking to recover costs for building and
operating the plant from power ratepayers.

But since Illinois restructured its power market in the
late 1990s, the cost of building and operating power plants is
the responsibility of the generation owners, not ratepayers.

Those generation owners have built new, mostly natural
gas-fired power plants in Illinois over the past decade, but no
baseload coal or nuclear plants have entered service since the
late 1990s when what is now Exelon Corp (EXC.N: ) completed some
nuclear reactors started before the Three Mile Island accident
in 1979.

The Tenaska spokesman could not immediately say what the
company planned to do next with the Taylorville project.
(Reporting by Scott DiSavino; Editing by David Gregorio)