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AES to air financial risks

Published:November 20, 2009, 6:50 AM

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Updated: August 21, 2010, 3:11 AM

AES Corp., which operates a coal-fired power plant in the Town of Somerset, has agreed to disclose information about the financial risks involved with the production of pollution that could cause global warming.

The agreement with State Attorney General Andrew Cuomo is similar to settlements reached last year with two other power producers, Dynegy Inc. and Excel Energy.

The agreement requires AES to disclose an analysis of the risks associated with issues such as climate change regulation and legislation, as well as litigation and the physical impact of climate change, in the annual report it files with the Securities and Exchange Commission.

AES also agreed to disclose additional information about its current carbon emissions and projected increases in carbon emissions from planned coal-fired power plants. The company also must outline its strategy for cutting its global-warming pollution emissions, and the amount of the expected reductions.

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