The New York Public Service Commission has proposed to offer up to US$965m in subsidies to keep upstate nuclear power plants in service and to meet the state's CO2 emission reduction target. Comments are expected until 18 July 2016.
Earlier in 2016, this Commission had ruled that all CO2-free power plants (including nuclear plants) should be included in the state's Clean Energy Standard (CES) portfolio and that the CES must include a support scheme for upstate nuclear plants that may be retired for economic reasons. This would apply to Exelon’s 614 MW Ginna and 1,937 MW Nine Mile Point units 1 and 2, and Entergy’s 882 MW FitzPatrick nuclear power plant, which should shut in early 2017.
The PSC expects economic and environmental benefits associated with carbon reductions, supply cost savings and property tax benefits at around US$5bn, i.e. a net benefit of US$4bn.
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