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This is where the federal government should step in and provide subsidies to help close this plant. Even though Illinois chose poorly, bygones should be bygones
by ec109685 5y ago
This is where the federal government should step in and provide subsidies to help close this plant. Even though Illinois chose poorly, bygones should be bygones and the global impact too great to let a small set of individuals make this decision.
- toomuchtodo 5y agoThe market has a financial tool for this, called "Solar for coal" swaps, where the existing debt is refinanced into new debt (at competitive financing rates) issued for building utility scale solar generators. Agree that the US gov or the central bank should step in otherwise to subsidize the closure of these plants. It's going to happen one way or another.
- hedora 5y agoNot needed. This is what bankruptcy is for. Just don’t pay back the debt. If it’s held by investors, well, all investments can go down in value. If it’s held by companies that build carbon emitting plants, even better.
- toomuchtodo 5y agoMunicipalities and non profit co ops will not voluntarily pursue bankruptcy to re-negotiate or default on these debts (which will also impact their credit rating in the debt market for future issuances). They'll have to be forced into it if outside support isn't provided.