On November 2, Entergy made two announcements: it posted a big loss for the quarter, it will close its Fitzpatrick reactor once its fuel has run out.
Entergy blamed “market conditions” for the closure of the single-unit reactor on Lake Oswego. According to Power magazine’s blog, “The company said that it had worked with New York State officials during the past two months “to reach a constructive and mutually beneficial agreement to avoid a shutdown.” In the end, it was unsuccessful.”
From the Vermont Yankee experience “negotiating” the settlement agreement,” w understand that a state has little leverage with a nuclear company. The NRC places all the cards in the hands of the owner.
NY Governor Cuomo wants to retain the 600 jobs. He immediately announced that he would “pursue every legal and regulatory avenue” to keep Fitzpatrick open. At the same tie, he re-affirmed his commitment to close Indian Point. Let’s hope he doesn’t concede that point to keep Fitzpatrick open.
The nuclear industry pressure to keep IP open must be tremendous. Shutting down Indian Point would tell the world that the US nuclear experiment is over.
Closer to home, the closure of Vermont Yankee, Pilgrim and Fitzpatrick proves that Entergy made a very bad call when it bought these old reactors in the Northeast. I don’t know about you, but I feel nervous when I think about Entergy making business decisions about the Decommissioning Trust Fund we all paid in to.