US energy company Entergy has decided to close its Pilgrim nuclear power plant in Plymouth, Massachusetts (United States), no later than 1 June 2019, due to poor market conditions, reduced revenues and increased operational costs. Entergy is facing low wholesale energy prices (booming shale gas production lowering gas prices and electricity prices to record levels) and expects the trend to continue. In addition, the company is facing increased operational costs and enhanced Nuclear Regulatory Commission oversight, consistent with Column 4 of the agency's Reactor Oversight Process Action Matrix.
Entergy will discuss with the independent system operator of the electric grid, the ISO New England (ISO-NE), on the exact timing of the shutdown, which should be announced in the first half of 2016.
The 655 MW reactor (gross capacity of 711 MW) was commissioned in 1972 and received a 20-year license in May 2012 (its original 40-year license was scheduled to expire on 8 June 2012), enabling Pilgrim to operate until 2032.
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