Press release from Business Wire
NRG Settles Lawsuit with the States of New Jersey and Connecticut
<p class='bwalignc'> <i>– Ceases Coal-Fueled Generation at Mt. Bethel, Pa. Plant and Invests in Environmental Projects –</i> </p>
Wednesday, May 15, 2013
NRG Settles Lawsuit with the States of New Jersey and Connecticut09:30 EDT Wednesday, May 15, 2013
PRINCETON, N.J. (Business Wire) -- NRG Energy, Inc. (NYSE: NRG) has agreed with the States of New Jersey and Connecticut to settle a lawsuit concerning the operation of two coal-fueled electric generating units at the company's Portland Generating Station in Mt. Bethel, Pa. The settlement, via a federal Consent Decree, allows the parties to avoid further litigation of a lawsuit that began in 2007.
"NRG only acquired the Portland plant in December 2012 when we closed our merger with GenOn – but we immediately started working with New Jersey and Connecticut and were able to resolve this issue without additional delay or cost to taxpayers," said Lee Davis, President of NRG's East Region. "As a part of the settlement, we committed to make a significant investment in projects that are beneficial to the environment consistent with NRG's focus on providing power in a way that is environmentally responsible, reliable and affordable." NRG is the nation's largest developer of fast-charging infrastructure for electric vehicles, and a leading developer of large-scale and distributed solar energy.
The agreement ends a lawsuit brought by the States of New Jersey and Connecticut for alleged noncompliance with the federal Clean Air Act at the Portland plant based on work done many years before NRG acquired the facility. NRG operates the Portland plant in full compliance with permits issued by Pennsylvania and denies there have been any violations of the Clean Air Act. However, the company agreed with New Jersey and Connecticut that settlement of this action is in the public interest and the most efficient means of resolving the dispute. NRG operates generating stations in 16 states including New Jersey and Connecticut; the company's commercial headquarters is located in Princeton, N.J.
To meet the requirements of the settlement, NRG will stop using coal as fuel in two units at its Portland facility by June 1, 2014 after receiving the appropriate regulatory approvals. The units were previously scheduled to be deactivated on January 6, 2015. NRG has also agreed to invest $1 million to benefit the environment in New Jersey and Connecticut.
The Consent Decree will be provided to the U.S. Department of Justice (DOJ) and U.S. Environmental Protection Agency (EPA) for review and comment for a period of 45 days and then must be approved by the U.S. District Court for the Eastern District of Pennsylvania.
Portland Station is a 570 MW plant, located 26 miles northeast of Bethlehem, Pa., on the Delaware River.
NRG is at the forefront of changing how people think about and use energy. We deliver cleaner and smarter energy choices for our customers, backed by the nation's largest independent power generation portfolio of fossil fuel, nuclear, solar and wind facilities. A Fortune 500 company, NRG is challenging the U.S. energy industry by becoming one of the largest developers of solar power, building the first privately-funded electric vehicle charging infrastructure, and providing customers with the most advanced smart energy solutions to better manage their energy use. In addition to 47,000 megawatts of generation capacity, enough to supply nearly 40 million homes, our retail electricity providers – Reliant, Green Mountain Energy and Energy Plus – serve more than two million customers. More information is available at www.nrgenergy.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG's expectations regarding the Company's Portland facility and forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our power generation projects. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
David Gaier, 609-524-4529
Dave Knox, 713-537-2130
Chad Plotkin, 609-524-4526
Andy Davis, 609-524-4527