In a new state filing, Dayton Power & Light Co. puts itself on a path further from the use of coal in power generation.
The company said in the filing it will commit to selling its ownership in three generation stations while setting up an economic development fund for Adams County, where the utility earlier said it will close a pair of coal plants.
The local electric utility made those commitments and more in a filing this week before the Public Utilities Commission of Ohio (PUCO).
The three stations whose ownership stakes DP&L would sell are the Conesville station in Conesville, Ohio, Miami Fort in North Bend, Ohio and Zimmer in Moscow, Ohio. All three are coal-fired facilities.
The company in January already identified two coal-fired stations on the Ohio River in Adams County for closure in mid-2018.
Within 60 days of PUCO approval, DP&L says it will work with Adams County officials to identify a third-party to administer economic development grants, grants totaling $2 million.
“The funds will be used specifically for a) economic development activities, b) workforce development and c) direct financial education assistance for job training” for DP&L employees who work at generation stations in Adams and Brown counties, the document says.
“DP&L further agrees to collaborate with local and statewide development organizations to identify and promote potential economic development in Adams and Brown counties,” the company added.
DP&L owner AES Corp. will use proceeds from the sale of coal-generation units to make debt repayments to DP&L and DPL Inc., the filing before PUCO says.
PUCO will decide whether or not to approve the plan sometime around mid-year, DP&L said.
A DP&L spokeswoman referred questions about the future of three power stations to their operators. American Electric Power operates Conesville while Dynegy operates Miami Fort and Zimmer.
Also in the stipulation: A bill decrease of about 25 cents a month for customers who use an average of 1,000 kilowatt-hours on DP&L’s standard service offer. One kilowatt-hour is enough power to cook breakfast for a family of four or to use a computer for several hours.
Also, the company said it will pay $50,000 annually to the city of Dayton for residential energy education and reduction programs.
“The proposed settlement represents a compromise among the parties, while allowing DP&L an opportunity to achieve an investment grade credit rating,” DP&L President and Chief Executive Tom Raga said in the release.
Other points in the filing: AES agrees to keep DP&’s headquarters in Dayton. And the company will start a “special hiring outreach” to Dayton residents. Also: DP&L will pay $200,000 each year to help Dayton with economic development.