From the road, overgrown greenery and a formidable razor-wire fence block the view of the twin domes of Indian Point Energy Center. But Indian Point’s neighbors in this densely populated New York City suburb have a clear picture of what will happen in 2020 when this 45-year-old nuclear power plant starts to shut down: millions of dollars in lost tax revenue.
Aging nuclear power plants are closing, doomed by the high cost of refurbishing them and the low price of natural gas. That is causing fiscal pain for municipalities that rely on revenue from the plants, and creating political pressure for state subsidies to forestall further shutdowns.
Nuclear power generates about a fifth of the nation’s electricity, through 99 nuclear reactors at 61 plants. That number is down from a peak of 112 reactors in 1990 and will likely shrink further.
Six reactors have shut down in the past five years, and eight more reactors are scheduled to close by 2025 at plants in California, Iowa, Massachusetts and Michigan. Nuclear power operators have said they will close a further five reactors at four plants in Ohio and Pennsylvania if those states don’t offer subsidies.
PEW – Stateline – Martha T. Moore – September 5, 2018.
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