Homer City Generation
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About Homer City Generation
Homer City Generating Station is an efficient and reliable 1,884-MW coal-fired merchant power plant in Center Township in Indiana County, PA, 45 miles northeast of Pittsburgh. Generating Units 1 & 2 were built in 1969, and anti-pollution scrubbers are being installed on them. Generating Unit 3 was built in 1977 and already is outfitted with a scrubber. The plant sells its baseload power into wholesale power generation markets in PJM Interconnection and NYISO.

NRG Energy Services operates and maintains Homer City Generating Station, employing approximately 250 people, about 75 percent of whom are represented by the International Brotherhood of Electrical Workers Local 459.

Financial Restructuring Process
On January 11, 2017, Homer City Generation L.P. (Homer City or the Company) announced that it filed voluntary petitions for a pre-packaged reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to implement a comprehensive restructuring plan. This restructuring will significantly reduce Homer City’s debt and provide for an orderly transition of ownership.

Homer City expects to continue operating in the normal course throughout the court-supervised restructuring process. Homer City expects to meet its business obligations in the normal course and intends to pay vendors in full for goods and services provided on or after the filing date under normal terms and conditions. In addition, the Company’s proposed Plan of Reorganization provides that trade and other general unsecured creditors will be paid in full for their claims.

Homer City entered into a restructuring support agreement (the RSA) with approximately 86% of the holders of its outstanding 8.137% Senior Secured Notes due 2019 and 8.734% Senior Secured Notes due 2026 (the noteholders) which, among other things, provides for the noteholders to become majority equity owners in Homer City and for more than $600 million in principal and accrued interest to be eliminated from Homer City’s balance sheet. The Company is in the process of soliciting creditor approval for its proposed Plan of Reorganization.

The Press Release and an FAQ about the restructuring process are available here:

Court filings and other information related to the court-supervised proceedings are available at a website administered by Homer City’s claims agent, Epiq Systems, at http://dm.epiq11.com/homercity.