South Field Energy Breaks Ground for 1,182-MW Power Plant

LCG, May 16, 2019--South Field Energy LLC announced yesterday its groundbreaking for an 1,182-MW, combined-cycle electric generating facility in Columbiana County, Ohio. The natural gas-fired facility is scheduled to commence operations in mid-2021 and represents a $1.3 billion investment.

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Exelon to Shut Down Three Mile Island by September 30, 2019

LCG, May 10, 2019--Exelon Generation announced Wednesday that Three Mile Island Generating Station Unit 1 (TMI) will shut down by September 30, 2019. The Nuclear Regulatory Commission (NRC) had approved back in 2009 a 20-year extension for the nuclear energy facility through 2034.

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Industry News

Mirant's Debt Rating Lowered to Junk

LCG, October 22, 2002-In line with the state of numerous energy companies lately, Mirant Corporation saw its debt rating lowered to junk status late yesterday by Standard & Poor's Ratings Services.

Mirant, which has outstanding debt of $10.7 billion, went from a unsecured debt rating of BB to BBB-minus.

On October 10, Moody's Investors Service downgraded the company's debt to near junk, at which point Mirant spokespeople made a point of the company's devotion to "strengthen liquidity and reduce trading and marketing activity," as was stated by company chief financial officer Ray Hill.

Mirant owns or controls 17,000 megawatts worth of electric capacity in the United States.

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