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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