An estimated 600 jobs are being cut by electricity generator Luminant as it closes three coal-fired power plants and a mine in Texas.
The layoffs are expected in January as Luminant, part of the Texas-based Vistra Energy Corp. is closing the Monticello, Big Brown and Sandow power plants. The company’s filing with the Texas Workforce Commission indicated nearly half of the 600 jobs are at the Three Oaks mine which is located near Elgin, a small town east of Austin.
The shutdown of the plants is due to competition from cheap natural gas according to the company. It also blamed low wholesale power prices and an increase in renewable generation.
The company is closing the power plants because of competition from cheap natural gas, low wholesale power prices and an increase in renewable generation.