Midwest coal plant operator facing bankruptcy

The Chicago Tribune reports that Midwest Generation is facing bankruptcy as it being squeezed by low natural gas prices and costly upgrades to its six coal-fired electric generating plants in Illinois:

Environmental retrofits of the company's coal plants in Powerton, Joliet and Will County would cost $628 million, officials said. That figure doesn't include a $75 million upgrade of one of three units in Joliet that the company isn't likely to move forward on. Retrofitting Waukegan Station would cost $160 million.

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