Entergy to close Indian Point nuclear plant by 2021
Citing safety and environmental concerns, Entergy Corp. has agreed to shut down its 40-year old Indian Point nuclear plant by 2021, according to New York Gov. Andrew Cuomo.
Gov. Cuomo announced the decision to shut down Indian Point, located 30 miles north of New York City during his State of the State speech Monday night, one of six speeches he plans to give throughout the state. Cuomo has long called for Indian Point’s closure, arguing it is too dangerous for nuclear reactors to be located so close to the most populated metropolitan area in the country.
“For 15 years, I have been deeply concerned by the continuing safety violations at Indian Point, especially given its location in the largest and most densely populated metropolitan region in the country,” Cuomo said in a statement. “I am proud to have secured this agreement with Entergy to close the facility 14 years ahead of schedule to protect the safety of all New Yorkers.”
Entergy said the expedited shutdown timeline was part of a settlement agreement under which New York State agreed to drop legal challenges and support renewal of Indian Point’s operating license for the remaining years it will be open, in exchange for a pledge to decommission the plant by April, 2021. The planned shutdown is part of Entergy’s strategy to exit the merchant power business over low wholesale energy prices.
“We thank our nearly 1,000 dedicated employees for operating a world-class nuclear power generating facility at top levels of safety, security and reliability, as well as the community for supporting us,” said Leo Denault, Entergy’s chairman and chief executive officer. “We are committed to treating our employees fairly and will help those interested in other opportunities to relocate within the Entergy system.”
Cuomo said the shutdown would have “negligible” impact on New York City electric customers, citing reports of rate increases amounting to $3 a month for average ratepayers. The deal comes as Cuomo touts a new clean energy standard that is reliant on taxpayer subsidies for four upstate nuclear plants, costing Long Island Power Authority customers $45 million a year.
Cuomo also said the state has plenty of options to replace the nearly 2,000 megawatts of capacity generated by Indian Point, including offshore wind farms being cited off Long Island, as well as hydro power from Canada. Replacement power sources from current transmission upgrades and efficiency measures could also make up almost half of the power provided by Indian Point, Cuomo said.
Entergy said that it would start eliminating 200 jobs, or about 20 percent of the plant’s workforce, in 2021, with about 200 workers staying on for the decommissioning process. Others will be offered positions in other facilities the utility operates, the utility said. State regulators say they will inspect the plant annually until it closes, while Entergy has agreed to transfer used fuel to protective dry casks.
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