The Chicago Tribune reports that Midwest Generation is facing bankruptcy as it being squeezed by low natural gas prices and costly upgrades to its six coal-fired electric generating plants in Illinois:
Environmental retrofits of the company’s coal plants in Powerton, Joliet and Will County would cost $628 million, officials said. That figure doesn’t include a $75 million upgrade of one of three units in Joliet that the company isn’t likely to move forward on. Retrofitting Waukegan Station would cost $160 million.