Luminant, a subsidiary of Vistra Energy (NYSE: VST), today released the following statement:
Amendments to the Illinois emissions rules suggested by the Illinois Pollution Control Board, like those proposed by the Illinois Environmental Protection Agency, reflect a significant cap on emissions. The IPCB emission caps are more restrictive than those proposed by the IEPA. While Vistra Energy and Luminant supported the IEPA proposal, the company believes the IPCB proposal to be thoughtful and reasonable. Luminant will work constructively through the remainder of the process and looks forward to fully implementing the new standards.
The board's revised proposal will substantially reduce allowable emissions – which is good for the environment – while allowing Luminant the flexibility to assess and optimize its fleet of power plants to compete in the market. The proposal will also allow Luminant to fulfill its sustainability goals of balancing the generation and sale of reliable, cost-effective power for residential and business customers with environmental considerations.
We appreciate both the IPCB's and IEPA's diligence in this complex matter. They incorporated public, governmental, and industry feedback, ultimately outlining regulations that are good for the environment and the people of the Illinois.
- This reduction in emissions will benefit all Illinoisans.
- The IPCB's amendments, while restrictive, are reasonable and would provide a streamlined regulatory structure to allow Luminant to run its downstate fleet more efficiently under one, fleet-wide, mass-based tonnage cap.
- Luminant is committed to environmental stewardship and innovation resulting in cleaner air, water, and land at all our sites.
In short, the amended rule appropriately balances the desire to adopt smarter and more efficient environmental regulations with providing the operational flexibility needed to safely operate Luminant's plants in a challenging economic environment.