Owners of Big Sandy throw in the towel and withdraw $1bn retrofit plans

New York Times reports that Big Sandy, an eastern Kentucky coal-burning plant, will not be retrofitted so it can meet environmental regulations.

AEP, as the Ohio-based company is known, did not formally declare that it was retiring Big Sandy. But it will now need to at least temporarily shut it down because it will not have enough time to install the required pollution controls before the first deadline it faces in 2015, a company official acknowledged.