One Vectren Square
Evansville, IN 47708
FOR IMMEDIATE RELEASEJan. 17, 2012
Media contact: Chase Kelley, (812) 491-4128 or kckelley@vectren.com
EPA requirements on mercury, other emissions finalized; Vectren's electric generation well-positioned to comply
Evansville, Ind. - As expected, the U.S. Environmental
Protection Agency (EPA) finalized more stringent rules last
month via the Mercury and Air Toxics Standards (MATS), which
regulates emissions of mercury and other pollutants. Given
Vectren's significant investment in emissions control
equipment over the past decade, the utility is in a position
to largely comply with MATS without significant additional
investment.
Since 2001, Vectren has installed more than $410 million in
emissions control equipment on its predominantly coal-fired
generation fleet in southwestern Indiana. As a result,
Vectren's electric generation fleet is now 100 percent
scrubbed for sulfur dioxide, 90 percent controlled for
nitrogen oxide and substantially controlled for particulate
matter and a significant portion of mercury.
"As we've seen with other EPA clean air rules issued in 2011,
our previous investment in air quality for this region will
help ensure we can comply with these new standards," said
Carl Chapman, Vectren's chairman, president and CEO.
The new rules, which were proposed on March 16 and finalized
on Dec. 21, 2011, illustrate the continued trend by EPA to
further regulate coal-fired generation. Existing power plants
generally will have up to four years, if needed, to comply
with MATS. This includes the three years provided to all
sources by the Clean Air Act, and state permitting
authorities can also grant an additional year as needed for
technology installation.
"We made the decision several years ago to make these
investments to improve the air quality for southwestern
Indiana and pave the way for further economic development in
our region, and as such, our customer's rates have increased
to reflect these costs," added Chapman. "However, we again
find ourselves in a position to comply, while other regional
utilities have already announced they will proceed with
significant expenditures to meet EPA demands or retire some
uncontrolled coal generation units."
EPA's analysis estimates the rules will cost utilities
and ultimately customers about $9.4 billion when the rules
take effect in 2015 and each year slowly decrease to a low of
$7.4 billion per year through 2030. However, an analysis for
the American Coalition for Clean Coal Electricity by National
Economic Research Associates (NERA) found that the proposed
rule and other pending EPA regulations will increase
electricity and other energy prices by $170 billion. The EPA
acknowledged the regulations will result in 14.7 gigawatts of
power supply (or 1 to 2 percent) being eliminated from the
U.S. power grid. Some believe this estimate is low.
Vectren has nearly 1,300 megawatts (MW) of generating
capacity, of which 1,000 MW is coal-fired. Vectren has two
power plants: F.B. Culley in Warrick County and A.B. Brown in
Posey County. The utility shares ownership of Warrick Unit 4,
a 150-MW unit, with Alcoa. Vectren serves 142,000 electric
customers in Dubois, Gibson, Pike, Posey, Spencer,
Vanderburgh and Warrick counties.
- more-
Vectren Corporation (NYSE: VVC) is an energy holding company
headquartered in Evansville, Ind. Vectren's energy delivery
subsidiaries provide gas and/or electricity to more than one
million customers in
adjoining service territories that cover nearly two-thirds of
Indiana and west central Ohio. Vectren's nonutility
subsidiaries and affiliates currently offer energy-related
products and services to customers
throughout the U.S. These include infrastructure services,
energy services, coal mining and energy
marketing. To learn more
about Vectren, visit http://www.vectren.com.
-end-
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