nuclear-news

Generous subsidies proposed for Upstate New York nuclear plants

NY regulators propose generous Upstate nuclear subsidies  By Tim Knauss | tknauss@syracuse.com SYRACUSE, N.Y. – State utility regulators today released a proposal to subsidize Upstate nuclear plants with annual payments totaling an estimated $482 million a year.

The proposal from the Public Service Commission staff seems likely to please nuclear plant operators, who say their facilities deserve subsidies for providing carbon-free power, and to infuriate anti-nuclear advocates who want more resources devoted to wind and solar.

The public has a brief window to comment — until July 18 – an indication that the PSC is likely to rule on the proposal at its Aug. 1 meeting.

Exelon Corp., which owns three of the four Upstate nuclear reactors, recently told the commission that the facilities might close unless subsidies were approved by September.

The proposal unveiled today recommends that the PSC sign 12-year agreements with nuclear operators, as Exelon had previously recommended.

The subsidies would be set administratively by the PSC. According to estimates provided in the proposal, the subsidies would start at $17.48 per megawatt-hour for the first two years and rise gradually to $29.15 per MWH in years 11 and 12.

At the expected combined output of 27.6 million MWH for the Upstate nukes, the total cost would be $482 million a year during the first two years, rising to $805 million per year for the final two years…….http://www.syracuse.com/news/index.ssf/2016/07/ny_regulators_proposed_generous_upstate_nuclear_subsidies.html

July 9, 2016 - Posted by Christina Macpherson | politics, USA