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South Bay Power Plant Demo Stalled Due to Bankruptcy?

The ink had just dried on Dynegy’s South Bay LLC’s contract with the Port of San Diego to demolish Chula Vista’s defunct power plant when Dynegy Holdings filed for bankruptcy.

Dynegy’s website says of the November 7 filing, “South Bay is not a debtor under chapter 11 and is not directly impacted under the filing…. South Bay Dynegy is committed to fulfilling its contractual obligation….”

The October 25 agreement between Dynegy South Bay and the port — which is still in effect — calls for a bifurcated removal of the plant and a demolition timeline.

Ann Moore, Chula Vista’s port commissioner, said the agreement with Dynegy improves upon an earlier agreement secured by former port commissioner David Malcolm.

In a recent interview, Moore said, “I really believe it was a brilliant agreement, and [Malcolm] should be thanked, but there were holes in it. One of them was the period when Dynegy was supposed to either begin demolition or complete demolition. There was no discussion about that in the agreement. So the port had to deal with that because the agreement just said [Dynegy] would ‘diligently pursue and perform.’”

Though Dynegy was not compelled to negotiate a timeline or bifurcation, Moore said removing the structure first is a boon for Chula Vista. “There’s no doubt in anybody’s mind that the remediation of the site is going to be much more complicated and actually involve many more parties.” Several tenants — including San Diego Gas & Electric and Duke Energy — have occupied the site.

About a possible bankruptcy stalling the demolition process, Moore said, “At the end of the day, we do have the Duke guarantees that are very clear: if there’s a bankruptcy they will take over their obligations.”

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The ink had just dried on Dynegy’s South Bay LLC’s contract with the Port of San Diego to demolish Chula Vista’s defunct power plant when Dynegy Holdings filed for bankruptcy.

Dynegy’s website says of the November 7 filing, “South Bay is not a debtor under chapter 11 and is not directly impacted under the filing…. South Bay Dynegy is committed to fulfilling its contractual obligation….”

The October 25 agreement between Dynegy South Bay and the port — which is still in effect — calls for a bifurcated removal of the plant and a demolition timeline.

Ann Moore, Chula Vista’s port commissioner, said the agreement with Dynegy improves upon an earlier agreement secured by former port commissioner David Malcolm.

In a recent interview, Moore said, “I really believe it was a brilliant agreement, and [Malcolm] should be thanked, but there were holes in it. One of them was the period when Dynegy was supposed to either begin demolition or complete demolition. There was no discussion about that in the agreement. So the port had to deal with that because the agreement just said [Dynegy] would ‘diligently pursue and perform.’”

Though Dynegy was not compelled to negotiate a timeline or bifurcation, Moore said removing the structure first is a boon for Chula Vista. “There’s no doubt in anybody’s mind that the remediation of the site is going to be much more complicated and actually involve many more parties.” Several tenants — including San Diego Gas & Electric and Duke Energy — have occupied the site.

About a possible bankruptcy stalling the demolition process, Moore said, “At the end of the day, we do have the Duke guarantees that are very clear: if there’s a bankruptcy they will take over their obligations.”

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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