PSEG Power to sell Keystone, Conemaugh facilities in Pennsylvania

Public Service Enterprise Group Power (PSEG Power) is selling its 776-megawatt (MW) interest in the Keystone and Conemaugh coal-fired generation facilities in western Pennsylvania.

The transaction is expected to close in the second half of 2019, pending regulatory approvals.

With this sale, PSEG Power moves closer to completing its long-term strategy to exit from the coal-fired energy generation business. The remainder of the company’s coal generating assets have either been sold or scheduled for early retirement.

In October 2016, PSEG Power announced the retirements of its Hudson and Mercer coal-fired generating stations, both of which generated 1,252 MW of power. In early 2021, PSEG Power will retire its 383 MW coal unit in Bridgeport, Conn. By 2021, PSEG will have retired or exited through sales over 2,400 MW of coal-fired generation.

PSEG Power is an energy supply company that serves the Northeast and Mid-Atlantic regions of the United States. It integrates the operations of its merchant nuclear and fossil generating assets with its power marketing businesses and fuel supply functions. PSEG Power has four main subsidiaries — PSEG Nuclear, which operates the Salem and Hope Creek nuclear plants in New Jersey and the Peach Bottom facility in Pennsylvania; PSEG Fossil, which operates the company’s portfolio of natural gas- and oil-fired electric generating units; PSEG Energy Resources & Trade, the trading arm of PSEG Power; and PSEG Power Ventures, which develops utility-scale solar facilities.