Cuomo, Entergy said to be negotiating Indian Point closure

The New York Times reported Jan. 6 that Entergy (NYSE:ETR) and New York Gov. Andrew Cuomo (D) have worked out an agreement where both Indian Point nuclear units would close by the end of 2021.

In the article, the NYT reported that an agreement had been reached to retire the nuclear units and cited confirmation from “a person with direct knowledge of the deal.”

The same newspaper article, however, quoted a spokesman for the governor saying that no agreement has been finalized.

Located roughly 35 miles from Manhattan, Indian Point Units 2 and 3 together generate roughly 2,000 MW for the Greater New York area.

The two units are actually located in Westchester County, New York and Westchester County Executive Robert Astorino (R) released a statement late Jan. 6 saying that the county needs to be part of any closure talks.

“Westchester County has not been a part of any talks to close Indian Point – and that’s a big problem,” Astorino said. “Any discussion to close Indian Point must have the one million people of Westchester represented at the table,” the county executive added.

Any closure of the two nuclear reactor units could result in the loss of 1,000 jobs for workers at the Indian Point complex. Saying that Indian Point generates 25% of the electricity consumed by Westchester and New York City, Astorino said its closing could cause energy rates to skyrocket.

Entergy has been mired for years in a heavily-contested effort to have the Nuclear Regulatory Commission (NRC) renew the licenses for the units for 20 years. The first licenses for the pressurized water reactors (PWRs) expired in 2013 and 2015. But the units continue to operate because they filed for renewals in advance of those dates.

Cuomo has been an outspoken opponent of the license extension for the two units, even as he as supported incentives to keep nuclear units operating in Upstate New York.

http://www3.westchestergov.com/news/7365-astorino-speaks-on-cuomo-s-decision-to-close-indian-point

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.