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Obama and his war on coal
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<blockquote data-quote="Babagounj" data-source="post: 1023115" data-attributes="member: 12952"><p>Are you referring to the Salem Harbor Power Station ?</p><p></p><p> In 2000, coal was the third-most-used fuel for electricity in New England, accounting for 18 percent of the region's power. Now, it produces just 6 percent of regional power, according to grid operator ISO New England.</p><p>The Brayton Point plant in Somerset on the market .</p><p>Because this five-decade-old plant which also burns oil and natural gas, Dominion spent about $1.1 billion to modernize the plant it bought in 2005. But the estimated earnings are bleak. In a report Thursday, the day of Dominion's announcement, USB Investment Research projected Brayton Point would lose $3 million this year and again in 2014.</p><p>The plant, located on Mount Hope Bay across the mouth of the Taunton River, employs 215 people and can provide power to 1.5 million people at full capacity, Dominion says.</p><p>Somerset selectman chairman Patrick O'Neil said he's not worried the plant has a future, but he has concerns a low sale price could drop its assessed value. That would have implications in Somerset, which received a nearly $16 million tax payment from the station this fiscal year -- just $2.5 million less than the town's entire K-8 school budget for fiscal 2013.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 1023115, member: 12952"] Are you referring to the Salem Harbor Power Station ? In 2000, coal was the third-most-used fuel for electricity in New England, accounting for 18 percent of the region's power. Now, it produces just 6 percent of regional power, according to grid operator ISO New England. The Brayton Point plant in Somerset on the market . Because this five-decade-old plant which also burns oil and natural gas, Dominion spent about $1.1 billion to modernize the plant it bought in 2005. But the estimated earnings are bleak. In a report Thursday, the day of Dominion's announcement, USB Investment Research projected Brayton Point would lose $3 million this year and again in 2014. The plant, located on Mount Hope Bay across the mouth of the Taunton River, employs 215 people and can provide power to 1.5 million people at full capacity, Dominion says. Somerset selectman chairman Patrick O'Neil said he's not worried the plant has a future, but he has concerns a low sale price could drop its assessed value. That would have implications in Somerset, which received a nearly $16 million tax payment from the station this fiscal year -- just $2.5 million less than the town's entire K-8 school budget for fiscal 2013. [/QUOTE]
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