nuclear-news

In a press release, Entergy said Consumers’ customers would save as much as $172 million over four years, even after paying Entergy $172 million to terminate the contract. The early termination payment is expected to “help assure the plant’s transition from operations to decommissioning.”

The 798-MW plant located about five miles south of South Haven, Mich., faced economic difficulties similar to other single-unit facilities, such as the recently closed Fort Calhoun Plant, and the R.E. Ginna, Nine Mile Point, FitzPatrick, and Clinton plants, which only remained viable after subsidies were approved in New York and Illinois. Entergy said, “market conditions have changed substantially, and more economic alternatives are now available to provide reliable power to the region.”

“Entergy recognizes the consequences of a Palisades shutdown for our approximately 600 employees who have run the plant safely and reliably, and for the surrounding community, and we will work closely with both to provide support during the transition,” said Entergy Chairman and CEO Leo Denault. “We determined that a shutdown in 2018 is prudent when comparing the transaction to the business risks of continued operation.”……http://www.powermag.com/market-conditions-doom-another-nuclear-plant-palisades-to-closure-in-2018/