Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Vistra to close another Illinois coal plant: Texas-based Vistra Energy will shutter the E.D. Edwards coal plant in Peoria County by the end of 2022 under a preliminary settlement with environmental groups that sued the plant in 2013. The agreement, announced Monday, also provides $8.6 million to create clean energy jobs and fund public health and environmental projects in Illinois. The Edwards plant employs about 70 workers. The announcement comes less than a month after Vistra disclosed plans to shut down its Illinois coal power plants in Canton, Havana, Hennepin and in Coffeen, which is about 70 miles northeast of St. Louis.

Detroit mayor seeks bonds to combat blight: Detroit Mayor Mike Duggan unveiled a plan on Monday to sell up to $250 million of bonds to tackle the city's remaining blighted and abandoned houses over the next five years. If approved by the Detroit City Council, a bond measure would be placed on the March ballot, marking the first vote by residents on bonds since the city exited municipal bankruptcy in 2014. Proceeds from the 30-year bonds, along with annual appropriations from the city's budget, would be used to accelerate the demolition of 19,000 structures and the rehabbing of 8,000 others. Without the bond funds, the process would take 13 years to complete, Duggan's office said.

Pipeline operator to acquire rival: U.S. pipeline giant Energy Transfer said Monday it has agreed to acquire rival operator SemGroup Corp. for about $1.35 billion in a stock and cash deal. Including debt, the total acquisition value is about $5 billion. As part of the deal, Energy Transfer will gain control of SemGroup's crude oil terminal on the Houston Ship Channel and connect it to its Nederland, Texas, terminal. Energy Transfer said it will construct a pipeline between the two terminals. …

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