Illinois regulators approve FutureGen power purchase agreement<quoted text>
Are you sure this project is still alive?
The State of Illinois has a goal to purchase 25 percent of its electricity from clean coal electricity with carbon capture and storage. On December 19, 2012, the Illinois Commerce Commission (ICC) approved the terms of a power purchase agreement (PPA) for the FutureGen 2.0 project. The agreement requires the state’s electric utilities (ComEd and Ameren Illinois), as well as the alternative retail electric suppliers (ARES), to purchase electricity from FutureGen 2.0 for 20 years.
The ICC’s approval is strong both with respect to protecting Illinois ratepayers and providing the necessary cost recovery mechanism for FutureGen’s electricity. The Alliance recognizes that the ICC was faced with a complex matter and appreciates the extensive amount of time the ICC commissioners and staff put into the effort. It is a clear demonstration of Illinois’ leadership on clean coal technology.
Deal signed for purchase of the Meredosia power plant
In late 2011, the Meredosia Energy Center (MEC) closed its doors. At the time, Ameren Energy Resources pledged to work with the Alliance to make portions of the MEC available to the FutureGen 2.0 project. Ameren Energy Resources fulfilled that pledge when a contract was executed for the sale of a portion of the MEC to the Alliance in January 2013. Under the agreement, Ameren Energy Resources will continue maintenance at the energy center to keep it in a condition suitable for future retrofitting. In 2014, immediately prior to the start of construction and when all conditions are met, ownership of the pertinent part of MEC will formally transfer to the Alliance.