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America’s nuclear power plants going down like dominoes

nuclear-dominoesU.S. Nuclear Power Plants Continue To Close, Oil Price, 

While the New York government supported reactors elsewhere in the state, they resisted Indian Point because of its proximity to the city. Entergy ultimately conceded, as the company is in the midst of ridding itself of nuclear reactors in the north and is instead focusing on regulated markets in the south.

In fact, Entergy disputed Gov. Cuomo’s influence, citing cheap natural gas as a significant factor in its decision to shut down the plant. But Gov. Cuomo and the state’s attorney general resisted granting Entergy a 20-year license extension on Indian Point. Entergy spent $200 million over the past decade in legal fees trying to obtain a new license, to no avail……..

Gov. Cuomo is now aggressively pushing offshore wind, and is targeting 2.4 GW of offshore wind capacity by 2030. The first down payment on that target is a 90-megawatt project off the coast of Long Island, which he is supporting. However, those projects will take years to come online even under the most optimistic circumstances, raising fears of a gap in power supply…..

Environmental groups are more confident. “Hats off to the Cuomo Administration and New York leaders for planning to shut down another nuclear plant and replacing it with clean energy,” Anna Aurilio, director of Environment America’s Global Warming Solutions Program, said in a statement. “There’s more than enough renewable energy projects in the pipeline to replace Indian Point.” Offshore wind could be complemented by onshore wind, solar, and energy efficiency. If New York fails to fill the gap left by Indian Point with renewables, the state can still import hydropower from Quebec.

Indeed, New York is unfazed. The state recently implemented a tighter renewable portfolio standard that requires utilities to source 50 percent of their electricity from renewable sources by 2030, one of the most aggressive in the nation. Gov. Cuomo also announced this week that New York will cut greenhouse gas emissions by an additional 30 percent below 2020 levels by 2030, tightening the requirements under the Regional Greenhouse Gas Initiative (RGGI), a regional cap-and-trade program between Mid-Atlantic and Northeastern states. Gov. Cuomo is going all-in on renewables in an effort that has raised questions regarding his presidential aspirations in 2020.

Indian Point is just one power plant, but it is indicative of the eroding position of nuclear power. Only a handful of new nuclear reactors are under construction, and despite the hype of a “nuclear renaissance,” even the newest models are facing lengthy delays and cost overruns, a longstanding problem for the industry. Meanwhile, existing nuclear reactors are getting picked off, one by one.

Whether it will be solar, wind or natural gas, the one thing that is clear is that nuclear power will increasingly give way to alternatives.


January 14, 2017 - Posted by | business and costs, USA

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