The 62-year-old plant is expected to close by Oct. 1, 2012, according to a City of Alexandria press release. Alexandria will release $32 million that was being held in escrow to pay for environmental controls at the plant, in order to facilitate its closure.
“Today’s announcement is a path forward for both Alexandria and the power company that works for everybody, and truly reflects the interest of both parties,” Alexandria Mayor William Euille said in a statement. “Both the Alexandria City Council and community have worked extremely hard toward this goal, and we are very proud of the final result. This news strengthens Alexandria’s future and opens the door to an enhanced quality of life for our residents.”