Regional Radio News has learned that Dominion Energy has put its Kincaid Power Station up for sale.
In a news release made available to Regional Radio News late this (Thursday) afternoon, company officials said that although they do not have a buyer at this time, they expect the sale to close in the first half of 2013.
Dominion said the reasons for the sale are based on financial and strategic objectives, not operational performance. They added that these are excellent, well-operating and well-maintained facilities. State-of-the-art emissions controls have been or are in the process of being installed at the stations’ coal-fired units, which are fully compliant with stringent, new federal air regulations.
Dominion further told employees this (Thursday) morning that the employees of these stations and those who support the stations have consistently worked hard and well, and they have delivered on Dominion’s values since they have been associated with the company. They added that Dominion will work to make sure the affected employees are treated fairly.
Dominion added that they continually review their assets to ensure they still fit strategically and support their objectives to improve return on invested capital and shareholder value. They believe the sale of these assets and the redeployment of capital to their regulated businesses is the best path forward.
Dominion added that they recognize this news is difficult for the affected employees and distracting for others at Dominion, and that they are committed to continue operating these stations safely and efficiently throughout the sale process.