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Sale Of Nuclear Plant Could Drive Up Electricity Costs
By
Ben Muessig
Published Mar 3, 2010
Modified Mar 3, 2010
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By
Ben Muessig
Published Mar 3, 2010
Modified Mar 3, 2010
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If the Indian Point nuclear power plant in Westchester is sold, New York City residents could see their electricity costs increase. And if the deal goes through, the new owner of the aging facility might be able to avoid paying for the eventual decommission of the plant, forcing taxpayers to cover the hundreds of millions of dollars of decontamination costs.
The Daily News reports that current Indian Point owner Entergy wants to sell the plant to a spin-off called Enexus, which will open with $4.5 billion in debt. Attorney General and likely gubernatorial candidate Andrew Cuomo—who has called Indian Point a "catastrophe waiting to happen"—opposes the deal because Enexus would start out "heavily indebted" with no assets other than the plant. According to the tabloid, some locals worry that because Enexus is a limited liability company, it won't be responsible for decontaminating 1.63 million cubic feet of radioactive soil when the plant closes, possibly forcing taxpayers to shoulder the clean-up costs.
The Public Service Commission will rule on the sale tomorrow. In past years, Indian Point has suffered fires and other malfunctions, including allegedly killing fish.
Tagged
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electricity
electricity bill
energy
enexus
entergy
indian point
nuclear
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