Tues. 11:50 a.m.: Developer pulls plug on plan for third Lordstown power plant
LORDSTOWN – The developer of two nearly $1 billion natural gas-fired power plants in the village is aborting plans for a third, blaming “political tampering” with Ohio’s electricity generation markets.
Bill Siderewicz, president of Clean Energy Future LLC, said the passage of House Bill 6 in July is what led him to terminate the third gas-to-power project. The legislation, signed into law in July by Ohio Gov. Mike DeWine, is viewed by detractors as a $1 billion financial rescue package for Ohio’s two ailing nuclear power plants.
Siderewicz testified against the bill in April. Then he warned it would have a chilling effect in Ohio by forcing new investment outside the state. In addition to Clean Energy Future’s to scrap the third Lordstown plant, Siderewicz said LS Power is abandoning its $500 million gas-fired project in northwest Ohio.
“Political tampering with Ohio’s free electricity generation markets has very real impacts and results, as we see happening now,” Siderewicz said in a press release today.
Lordstown Energy Center on Henn Parkway began generating power in October 2018 while plans to begin building it’s sister plant, Trumbull Energy Center, are on track for later this year. The more than $1 million put so far to developing the third plant will be taken as a loss, Siderewicz said.