In a final decision from plant owners, EquiPower Resources, said the 1,492 MW Brayton Point coal-fired power plant in Massachusetts will close on June 1, 2017. The power plant has a staff of about 240 workers. It is located about 50 miles south of Boston.
EquiPower bought the power plant and two others from Dominion in August 2013 for $650 million
In September 2013, EquiPower announced plans to close the coal-fired plant in June 2017.
In January 2014, ISO New England, which runs the wholesale energy market in the region, requested the plant remain operational in order to prevent blackouts.
Last week, EquiPower decided to retire the plant anyway.
“This difficult decision was based on the uncertainty and risks associated with the compensation alternatives available under current ISO-NE market rules,” according to a statement by the plant operator.