The electricity utility plans to replace the coal-fired plant with a new plant fired by natural gas in Martinsville.

According to company officials, nearly 600 construction workers will be hired to complete the project.

Upon completion, the natural gas plant will employ about two-dozen people, about the same number as the coal plant.

But the transition would not be immediate for Eagle Valley coal plant workers who want to stay on.

IPL said if the plant does go forward, customers will see their yearly utility rates rise 2% to 3% until the cost of building the plant, an estimated $630m is paid off.

In order to proceed with the project, the company will have to secure The Indiana Utility Regulatory Commission’s approval.

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