GenOn Planning Seven Coal Plant Shutdowns

Reuters reported that GenOn Energy (NYSE:GEN) will shut down seven mid-Atlantic coal-fired power plants on new environmental regulations.

As quoted in the market news:

In its earnings release, GenOn said it would shut the units, which are all located in the PJM power grid, between June 2012 and May 2015 because forecasted returns on investments necessary to comply with environmental regulations were insufficient.

Click here to read the full Reuters report.