Searching for lost revenue from shut-down nuclear plants, NY law allows towns to assess waste storage

Indian Point nuclear power plant. Photo: Entergy Nuclear

Communities across the United States where nuclear power plants have been shut down face huge gaps in tax revenues, sometimes in the tens of millions of dollars. States such as New Jersey, Illinois, Wisconsin, and California are watching events in New York now that Gov. Andrew Cuomo has signed a new law that says cities can “assess the economic value of storing waste” on sites where nuclear plants once operated, as reported by Bloomberg.

When a nuclear plant closes

Theresa Knickerbocker, the mayor of the village of Buchanan, N.Y., where the Indian Point nuclear power plant is located, is not happy. What has gotten Ms. Knickerbocker’s ire up is the fact that Indian Point’s Unit 2 was closed on April 30, and Unit 3 is scheduled to close in 2021. The village, population 2,300, is about 1.3 square miles total, with the Indian Point site comprising 240 acres along the Hudson River, 30 miles upstream of Manhattan. Unit 2 was a 1,028-MWe pressurized water reactor; Unit 3 is a 1,041-MWe PWR.

The nuclear plant provides the revenue for half of Buchanan’s annual $6-million budget, Knickerbocker told Nuclear News. That’s $3 million in tax revenues each year that eventually will go away. How will that revenue be replaced? Where will the replacement power come from?

New, strict rule on plant water intake targets nuclear

Indian Point

A recent Reuters news article describes how New York State will require a reduction in cooling water intake for power plants and other industrial facilities, to reduce fish kills by 90 percent. The article goes on to say that the state is planning to use this rule to force the Indian Point nuclear power plant to install a $2-billion closed-cycle cooling system.