Dalton Utilities Receives Approval for $130 Million Natural Gas Power Plant Construction
The Dalton City Council has approved Dalton Utilities to issue up to $130 million in revenue bonds for the construction of a 56.8 megawatt natural gas power plant. This project aims to save the utility approximately $1.5 million annually by decreasing dependence on the wholesale power market, with the bond issuance expected to close by late spring. The plant will primarily serve residential, commercial, and industrial customers, rather than data centers.
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The Dalton City Council approved a resolution for Dalton Utilities (DU) to issue revenue bonds to finance a new 56.8 megawatt natural gas power plant. The city-owned utility plans to issue up to $130 million in debt, potentially allowing for $30 million to be prepaid if construction costs are lower than projected.
The bond issuance is expected to close in April or May, with the plant anticipated to save DU approximately $1.5 million annually over its first decade by reducing reliance on the wholesale power market. The CEO clarified that the plant is not primarily for data centers but will support residential, commercial, and industrial customers. The meeting also included board appointments and a closed session on personnel matters, with the next council meeting scheduled for February 2.
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