First Energy tabs $1.6B to cut emissions |
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Thu, 15 Mar 2007 20:26
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NEW YORK (AP) - First Energy Corp., which generates and distributes electricity to customers in Ohio, Pennsylvania and New Jersey, said Thursday it would spend about $1.6 billion over the next four years to reduce emissions from its power plants.The expenditure includes an estimated $380 million in 2007, $563 million in 2008, $496 million in 2009 and $178 million in 2010.The work includes sulfur dioxide and nitrogen dioxide controls at the company's Sammis plant, the largest coal-fired plant in Ohio, and sulfur dioxide control upgrades at its Mansfield plant in Pennsylvania.First Energy's Eastlake Unit 5 and Burger Units 4 and 5 will get nitrogen dioxide controls and its Bayshore Unit in Ohio will get sulfur dioxide and nitrogen dioxide controls, according to the company.The company's facilities are under compliance until 2015, according to First Energy Chief Executive Anthony J. Alexander'We are well-positioned for the future, regardless what new rules come out,' Alexander told analysts at the Morgan Stanley Global Electricity & Energy Conference in New York.The company estimated its total capital expenditures in 2007 at $1.44 billion and forecast spending of $1.71 billion 2008.Shares of Akron, Ohio-based First Energy rose 57 cents to $62.65 in afternoon trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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