nuclear-news

Connecticut might tax nuclear plant out of existence

Conn. tax plan could shut nuclear plant -lawmakers | Reuters, 13 April, * Dominion could shut Millstone if state passes tax* State seeks $340 million from proposed tax* Power rates in Connecticut second highest in nation The proposed legislation, An Act Concerning Electric Rate Relief (Senate Bill 1176), aims to raise revenue, provide ratepayer relief and fund clean energy projects.The money would come from a tax on the power produced at nuclear, coal and oil-fired generators in the state.The bill is expected to raise about $340 million a year, but Dominion said $330 million of that would come from Millstone, the only nuclear plant in the state.”If the tax passes we will be forced to shut Millstone. That burden of $330 million will make the plant no longer economically viable to operate,” Dominion spokesman Ken Holt told Reuters…..

April 14, 2011 - Posted by Christina Macpherson | politics, USA