Dynegy Inc., which owns power plants in 11 U.S. states, will disclose climate-change-related financial risks under an agreement with the New York State attorney general’s office. The deal follows a similar settlement with Xcel Energy, announced in August. Dynegy currently has the capacity to power an estimated 14 million homes — nearly one-quarter of that capacity comes from coal — and it plans six new coal-fired generators. Efforts to limit carbon-dioxide emissions, which both U.S. presidential candidates have proposed in some form, could significantly affect the financial fortunes of power companies that rely on coal. Under the agreement, Dynegy will report to the U.S. Securities and Exchange Commission on its current and future carbon emissions; its strategy and projections for cutting that pollution; and its analysis of financial risks from potential climate-change legislation, regulation, and litigation. New York Attorney General Andrew Cuomo is pursuing similar deals with several other power companies.
U.S. Power Company Agrees to Reveal Financial Risks of Climate Change
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