Vistra Energy issued the following announcement on Aug. 24.
Luminant, a subsidiary of Vistra Energy (NYSE: VST), announced that it filed a notice of suspension of operations with PJM and other mandatory regulatory notifications related to the retirement of its 51-megawatt waste coal facility, Northeastern Power Company, in McAdoo, Pennsylvania, due to its uneconomic operations and negative financial outlook. Following the receipt of regulatory approvals, the plant is expected to close in late 2018.
Luminant estimates fewer than 25 full-time positions will be affected by this decision. Eligible employees will be offered severance benefits and outplacement assistance. The company will take the necessary and required steps to decommission the facility, including working with the key constituents.
Original source can be found here.
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