“Brayton Point is looking at losing money for the foreseeable future,” said David Schlissel, who co-authored the report with financial expert Tom Sanzillo. “The market conditions have changed and are continuing to change for old coal plants. There is nothing on the horizon that shows that this power plant will be able to return to financial health; in fact, even the most optimistic scenario shows that Brayton Point cannot produce earnings that would cover its costs and produce a return for equity investors at any time through 2020.”
An independent analysis of the financial performance of Dominion Resources’ Brayton Point power plant in Somerset, Massachusetts, prepared by The Institute for Energy Economics and Financial Analysis (IEEFA) for Conservation Law Foundation (CLF), projects a bleak future for the 50-year-old coal-fired facility, the largest remaining coal plant in New England.
Brayton Point, like so many coal plants in New England and around the country, is at a tipping point. The financial writing on the wall suggests that the town of Somerset should begin planning now for Brayton Point’s retirement.