TransAlta (TSX:TA) and Puget Sound Energy jointly reported the signing of a power purchase agreement, which intends to phase out coal power at the Centralia generating station.
As quoted in the press release:
If approved by Washington utility regulators, the contract will benefit PSE customers by providing them another source of low-cost power, while advancing a separate TransAlta agreement with state government and the environmental community to phase out coal-fired power generation in Washington by 2025.
TransAlta USA President Paul Taylor, commented:
This agreement with Puget Sound Energy provides customers with a stable-priced, low-cost source of power, while advancing TransAlta’s goal of contracting the output of the facility.