NEI urges New York PSC to issue credits to nuclear facilities

The Nuclear Energy Institute urged the New York Public Service Commission (PSC) last week to adopt its July 8 proposal “without delay” that would issue credits to carbon-free nuclear energy facilities to maintain operations.

“The proposal developed by the staff could serve as a model for other states as they look to preserve non-emitting generation into the future,” the NEI said. “While a holistic policy that would allow consistency across states would be the ideal, New York is showing that states can take action before such a national framework is available.”

The proposal would require the state of New York to issue credits to its nuclear energy facilities, focusing on plants that are at risk of closing in an effort to reduce emissions by keeping carbon-free nuclear power plants operational. New York has several at-risk power plans, including Exelon’s R.E. Ginna, Entergy’s James A. FitzPatrick and the Nine Mile Point nuclear plants. The new zero-emissions credit plan could increase nuclear investments in the state and keep New York green.

Following the release of the proposal, the Constellation Energy Nuclear Group offered to invest $200 million in the R.E. Gianna and Nine Mile Point nuclear power plants to keep the facilities operational. Entergy Corp. and Exelon Corp. also entered into discussions regarding the buyout of the FitzPatrick plant, which Entergy announced had plans of shutting down prematurely this January.

If approved, the proposal would save New York’s at-risk nuclear facilities and result in an estimated 40 percent reduction in greenhouse gas emissions by 2030, compared to 1990 figures.