Numerous power plants across central and southern Illinois are approaching the end of their useful economic life and have either recently closed or are at-risk of imminent closure.

A closed power plant provides virtually no economic benefit and provides no taxable value for the local community.

By allowing Vistra to reinvest in and repurpose the legacy fleet to harness the benefits of renewable energy, the state will extend the economic life and property tax value of the plants for generations to come.

COMMUNITY SCORECARD: PROJECTED IMPACT AT FULL IMPLEMENTATION

Legacy Plant Utility-Scale Solar Energy Storage Proposed Capital Investment
Baldwin 68 MW   9 MW ~$88 M
Coffeen 44 MW   6 MW ~$59 M
Duck Creek 20 MW   3 MW ~$28 M
Edwards * 45 MW ~$59 M
Havana 45 MW ~$59 M
Hennepin 50 MW   6 MW ~$65 M
EEI/Joppa ** 45 MW ~$59 M
Kincaid 60 MW   8 MW ~$79 M
Newton 52 MW   7 MW ~$70 M

*Edwards closing in 2022 pursuant to previously negotiated agreement.
** EEI/Joppa is closing in 2022 pursuant to an agreement reached with the Sierra Club.

SWIPE TO VIEW FULL TABLE

PRESERVATION OF LOCAL TAX BASE

It is Vistra’s goal to find solutions for each plant community that allow for the preservation of local property taxes, to the extent economically feasible. The company recognizes that agreements may need to be negotiated individually or further addressed through the legislation.

BUILDING A BRIGHTER FUTURE IN LOCAL COMMUNITIES

To ease the transition, Vistra offered plant communities impacted by 2019 closures an aggregate three-year $6.73 million tax agreement.

After a settlement accelerated the closure of the Joppa Power Plant to 2022, Vistra committed to $1.1 million to the local community.

These commitments are temporary patches.

The solution is to bring new, taxable infrastructure to plant communities.

The taxable value of the renewed plants is ~350 – 400% more than land-only value of former plant sites.