Coal

APS puts hold on planned coal-fired power plant purchase

Arizona Public Service Co. is putting its planned purchase and retrofit of part of the coal-fired Four Corners Power Plant in New Mexico on hold, according to a report from the Associated Press. The decision comes as Arizona regulators are considering the possibility of deregulating retail electricity sales in the state.

According to the Associated Press, APS said the potential deregulation, which would remove the utility’s status as a regulated monopoly, creates uncertainty for the project. APS, which operates the plant, owns three of the five units and shares ownership of the other two units with Southern California Edison and other utilities. APS had intended to buy SCE’s shares of the two units with shared ownership.

The total cost of purchasing the shares and retrofit the units to meet emissions compliance standards would have approached $600 million, according to the Associated Press.

Read more business news