US power utility Entergy has reached an agreement with the government of the state of New York (United States) on the early closure of the Indian Point nuclear power plant by April 2021.
The Indian Point nuclear plant consists of two 1,085 MW (gross) pressurized water reactors, which were commissioned in August 1974 and August 1976, respectively, and purchased by Entergy in 2001. The nuclear facility was opposed by environmental groups and local residents due to its proximity to a densely populated area but was expected to operate for another 14 years. Record low gas prices - related to booming gas supply from the Marcellus Shale formation - slashed power prices by nearly 45% over the last ten years, reducing the nuclear plant's profitability and prompting Entergy to seek an early closure.
Under the agreement, Indian Point Unit 2 will shut down by 30 April 2020 and Unit 3 by 30 April 2021.