Mirant agrees to close Potrero Power plant by 2010

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By Rebecca Bowe

This just in from City Attorney Dennis Herrera's office:

City Attorney Dennis Herrera has reached an agreement with Mirant to permanently shutter the company's Potrero power plant by the end of 2010, and to secure the Atlanta-based energy giant's unprecedented commitment to join the City in actively pushing for the plant's closure should state or federal energy regulators attempt to delay it. Under terms of the agreement signed by Mirant officials today, the company will also pay at least $1 million to the City to help address pediatric asthma in nearby communities and to initiate other mitigations in neighborhoods adjacent to the fossil-fueled facility. Mirant will pay another $100,000 to the San Francisco City Attorney's Office for legal fees and costs.

The agreement was just signed this morning. We'll give you an update soon with more in-depth information.