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The Boston Globe

Business

Brayton Point power plant owner denies market manipulation

The private equity firm that owns Brayton Point has denied that it is closing the Somerset power plant to manipulate the New England electricity market and increase its profits by tens of millions of dollars, calling allegations by consumer advocates “baseless and uninformed.”

In a 14-page filing made Friday to federal regulators, Brayton Point LLC — which is owned by a subsidiary of the equity firm Energy Capital Partners of Short Hills, N.J. — defended Brayton Point’s planned closing in 2017. The company said it made the decision after determining that continuing to operate the 53-year-old coal-fired plant in the face of cheap natural gas prices and increasing environmental regulations “would result in operating risks and losses.”

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