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The owner of the oil power plant at Norwalk Harbor said Tuesday that it will be closing the facility June 1 since prices in the region's energy market have been too low to justify keeping it open.
NRG, a power generation supplier headquartered in Princeton, N.J., and Houston, Texas, said that it doesn't expect to see an increase in prices in the capacity market for electricity.
The move is the latest in a regionwide shift from oil to natural gas as the choice fuel for electricity generation in the region, following the discovery of massive amounts of shale gas in New York and Pennsylvania that have driven down the price of natural gas.
Oil accounted for 22 percent of New England's electric generation in 2000. Last year, it accounted for less than 1 percent, according to ISO New England.
- Hartford Courant