Vistra supports the Illinois Coal to Solar & Energy Storage Act (HB 3446 / SB 529) to help the state responsibly transition its sources of electricity toward zero-emission generation.

The Build-out of Renewables (2022 – 2025) will:

Create 2,192 Total Full-Time Jobs Across Illinois

Generate $183 Million in Total Earnings for Workers

$300 M

Add $300 Million to the State’s Economic Output

Analysis of Dr. David Loomis of Strategic Economic Research, LLC, March 2021

Responsibly Retain At-Risk Generation Through 2025

Retaining some at-risk power plants through May 2025 is projected to provide the following economic benefits:

  • 765 – Annual Full-Time Jobs Retained – Direct, indirect and induced full-time job equivalents 

  • $278 Million in Total Earnings Sustained for Workers – Plans support direct, indirect and induced earnings in local communities and across the state

  • $1.5 Billion of Retained Economic Output– The retained plants will support the local and state economy through continued operations 

Analysis of Dr. David Loomis of Strategic Economic Research, LLC, March 2021

A Just Transition: Good For Energy Workers, The Economy & The Environment

The Act helps facilitate a Just Transition for energy workers and plant communities. Developing $550 million worth of zero-emission generation helps plant communities economically benefit for decades to come.

  • The market-based transition assistance program allows at-risk plants to provide wage and benefits certainty for employees and allows communities to plan for the future.

  • A retired coal power plant has practically no taxable value. Reusing plant sites and transforming them into renewable energy centers creates a “renewed” tax base that is an estimated ~350-400% more than current land-only assessments. 

  • Since 2019, Vistra has retired or announced the retirement of six Illinois coal plants prior to or by the end of 2022. Every plant closure treated workers with dignity and respect.

  • Well on way to meeting goal of reducing emissions from generation– since 2018, 51% less CO2, 51% less NOx, 38% less SO2. Plant sites would transition to zero-emission generation and no coal-fueled generation will remain in operation by 2027.

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.