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BRIEF-Luminant to close two Texas power plants
October 13, 2017 / 1:13 PM / a month ago

BRIEF-Luminant to close two Texas power plants

Oct 13 (Reuters) - Vistra Energy Corp

* Luminant to close two Texas power plants

* ‍Luminant - Estimates that about 200 employees will be impacted by Big Brown closure​

* Luminant- Co and Alcoa entered into contract termination agreement pursuant to which parties agreed to an early settlement of a long-standing power and mining agreement​

* Luminant - Vistra expects to record one-time charges of approximately $70 to $90 million in Q4 of 2017 related to expected retirements​

* ‍Luminant says estimates that approximately 450 employees will be impacted by Sandow plant and Three Oaks mine closure​

* Luminant -‍ If Ercot determines Sandow units are not needed for reliability following 60-day review, expects to cease plant operations on Jan 11, 2018​

* Luminant- ‍Expect to record additional one-time charges in Q4 related to changes in timing & amounts of asset retirement obligations Source text for Eikon: Further company coverage:

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