Boston, MA: New England Power Generators Association (NEPGA) President, Dan Dolan, today released the following statement following the announced closure of the Pilgrim Nuclear Power Station by June 1, 2019:
“Pilgrim Nuclear Power Station has long served Massachusetts consumers and those across the region. With its announced closure, New England’s power generators stand ready to continue providing safe, environmentally-responsible, reliable and competitively-priced electricity for consumers. Already, more than 1,800 megawatts of new power plants, enough to serve approximately 1.3 million households, are under construction and under development including nearly 1,000 megawatts in Massachusetts alone. Notably, all of these new plants are entering the market without a ratepayer-backed contract or special subsidies. Thousands of megawatts of additional new facilities are also competing to come into the marketplace to replace retiring units.
“Unfortunately, programs to subsidize particular technologies or resources and other out of market actions have led to undervaluing the services many generators provide. These actions serve to undermine power plant economics and contribute to the premature retirement of some facilities. To provide affordable, competitive pricing the open electricity markets in New England must continue to be refined without further subsidies and interventions that pick winners and losers.
“With the retirements of a number of power plants over just a few years, it is clear that New England’s electricity system is going through a time of unprecedented change. Despite that, 2015 has seen some of the lowest wholesale electricity prices in over a decade, reliability of the system is sound and carbon dioxide emissions from power plants have been cut by nearly 50% since 2005. At the same time, billions of dollars of new investment are flowing into the region without ratepayer guarantees or subsidies. These markets are working.
“New England’s power generators are committed to providing competitive pricing, reliability and lower environmental emissions for decades to come.”
NEPGA’s mission is to support competitive wholesale electricity markets in New England. We believe that open markets guided by stable public policies are the best means to provide reliable and competitively-priced electricity for consumers. A sensible, market-based approach furthers economic development, jobs and balanced environmental policy for the region.