This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Reid Wants Closure Of Coal Power Plant Near Vegas

Stock quotes in this article: NVE

KEN RITTER

LAS VEGAS (AP) â¿¿ U.S. Sen. Harry Reid on Tuesday called for the closure of a coal-fired power plant outside Las Vegas, saying he expects opposition from NV Energy Inc. but the facility is antiquated and a health risk to American Indians who live nearby.

"There is no clean coal," the Senate Democratic leader declared after meeting with several members of the Moapa Band of Paiutes who live near the Reid Gardner station and a handful of representatives of the Sierra Club and Nevada Conservation League who want the plant to close.

"We have to stop further degradation of the land and air as a result of burning coal," Reid said. "The solution is to close the plant. We want the boilers shut off."

A Republican party spokesman, Darren Littell, accused Reid of wanting to throw 150 people out of work in a state where unemployment tops 12 percent.

Reid said during his National Clean Energy Summit 5.0 at the Bellagio resort that he expects NV Energy, Nevada's dominant electric utility, to fight to keep the 557-megawatt plant running. The plant's first two units started operations in the 1960s, and the third started in the 70s.

NV Energy spokeswoman Jennifer Schuricht released a statement calling the plant 55 miles north of Las Vegas a key component of a diverse group of generating plants "that make sense for our customers and ensure reliability and price stability."

NV Energy also makes electricity at seven natural gas-fired plants, 44 renewable projects and one other coal-fired plant near Battle Mountain in northern Nevada.

The publicly traded company said the Reid Gardner facility provides enough electricity to power 335,000 Nevada households, and the company exceeds state requirements for use of electricity produced by renewable energy sources including solar, wind and geothermal sources.

But the plant will lose a customer next year when the California Department of Water Resources ends a part-ownership contract and quits buying power from Reid Gardner.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs