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from the just-preparing-for-thorium-and-molten-salt-reactors? dept.
from the economic-realities dept.
Utility Dive reports
Entergy Corp. plans to shutter its 680 MW Pilgrim Nuclear Power Station in Plymouth, Mass. no later than June 1, 2019, the company said this week.
AP reports that financial factors drove Entergy to make the decision, including tough market conditions, reduced revenues, and increased operational costs. Entergy said it did not anticipate the economics of the plant to change in the near future, either through a rebound in power prices or a different market structure.
The exact timing of the closure will be decided next year, but the company has already informed the ISO New England that it intends to stop participating as a capacity resource.
CounterPunch continues
Entergy is also poised to shut the FitzPatrick reactor in New York. It promises an announcement by the end of this month.
Entergy also owns Indian Point 2 and Indian Point 3 some 40 miles north of Manhattan. Unit 2's operating license has long since lapsed. Unit 3's will expire in December.
[...] Meanwhile, like nearly all old American nukes, both Pilgrim and FitzPatrick are losing tons of money. Entergy admits to loss projections of $40 million/year or more at Pilgrim, with parallel numbers expected at FitzPatrick. The company blames falling gas and oil prices for the shortfalls.
[...] the boom in wind [and] solar, increased efficiency, and other Solartopian advances are at the real core of nuke power's escalating economic melt-down.
(Score: 0) by Anonymous Coward on Tuesday October 20 2015, @02:07AM
Solyndra was one of many companies funded by the same program. That program in its entirety had the highest return on investment of any program of government handouts to business. The entire reason for the program in the first place was that the 'free market' was not getting the job done because the venture capitalists were too chickenshit.