- Exelon may have to cut the prices of the three Maryland coal plants it is looking to sell by as much as 40%.
- Bids have ranged from $600 million to $700 million for the plants, which had been valued at as much as $1 billion.
- The U.S. Environmental Protection Agency's tougher regulations on mercury and other toxins and low power prices have motivated companies to seek out non-coal options instead of investing in pollution controls for existing coal plants.
From the article:
The coal-fired power industry in the U.S. is facing the biggest plunge in asset values in a decade, risking billions of dollars in pollution-control spending by utilities such as Exelon Corp. (EXC) (EXC) and American Electric Power Co. (AEP) (AEP) ...