Entergy Corporation announced today that it will close the James A. FitzPatrick Nuclear Power Plant in Scriba, NY, in late 2016 or early 2017.

The company said its decision to close the plant is based on, "the continued deteriorating economics of the facility."

"The key drivers cited by the company include significantly reduced plant revenues due to low natural gas prices, a poor market design that fails to properly compensate nuclear generators like FitzPatrick for their benefits, as well as high operational costs," Entergy said

"Given the financial challenges our merchant power plants face from sustained wholesale power price declines and other unfavorable market conditions, we have been assessing each asset," said Leo Denault, Entergy's chairman and chief executive officer. "As part of this review, we previously announced the closure of the Pilgrim Nuclear Generating Station in Massachusetts and have now decided that despite good operational performance, market conditions require us to also close the FitzPatrick nuclear plant," Denault continued.

Tags:
Entergy   Nuclear   New York  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
Report: Energy Harbor Subpoenaed In Federal Probe Of Ohio Nuclear Subsidy Law
Long Island Lawmakers Decry "Poison Pill" Charge In LIPA Tariff For Opt-out Municipal Aggregation
Ohio House Speaker Creates Select Committee To Address Nuclear Subsidy Law
Exelon Generation Announces Intent To Retire Two Illinois Nuclear Plants In 2021
NY Agency Reminds That Unsolicited Telemarketing Calls Are Prohibited During State of Emergency