Sunday, January 20, 2019

Costs of Nuclear Bailouts in New York, Illinois, Connecticut & New Jersey


Costs of Other State Nuclear Bailouts

State
Duration
Price
Reactors
MW
MWh
Cost/year
Total Cost
New York
12 yrs
(2017-2029)
$17.48-$29.15/MWh (rises every 2 yrs.)
4
3,351 MW
27,618,000 MWh
$483M-$804M
~$7.6 billion
Illinois
10 yrs
(2017-2027)
$16.50-$20.50/MWh (rises every year after yr. 7)
3
2,780 MW
22,900,000 MWh
$235M
(cost capped at ~$10/MWh)
$2.35 billion
New Jersey
3 yrs., up to 12 yrs.
~$10/MWh
3
3,573 MW
29,400,000 MWh
~$300M
<$3.6 billion
Connecticut
10 yrs.
Unknown
3
~1,300 MW
~11 million MWh
unknown
Unknown
TOTAL
13
11,000 MW
81 million MWh
> $1.1 billion/yr
~$15 billion

Subsidies to New York reactors are projected to total as much as $7.6 billion over 12 years (2017-2029).
Judson, Tim. “Too Big to Bail Out: The Economic Costs of a National Nuclear Power Subsidy.”
 Nuclear Information and Resource Ser­vice.  November 2016.

Illinois subsidies are projected to total $2.35 billion over 10 years (2017-2027). Daniels, Steve.
 “How Exelon will keep getting bailout money in Illinois—whether it needs it or not.” Crain’s Chicago Business. August 2, 2017. 
https://www.chicagobusiness.com/arti­cle/20170802/NEWS11/170809972/how-exelon-will-keep-getting-bailout-money-in-illinois-whether-it-needs-it-or-not
Connecticut subsidies could amount to $330 million per year, in five-year contracts.
Energyzt Advisors, LLC. “Financial Assessment: Millstone Nuclear Power Plant.” April 2017.

New Jersey subsidies are estimated to cost consumers $300 million per year, in extendable three-year periods. 
The Board of Public Util­ities must submit a report to the governor within ten years evaluating the costs and benefits of the program.

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