Reactors

Report states Indian Point nuclear power plant closure could cost customers $800mn

A report by the New York Post indicates the closure of the Indian Point nuclear power plant could cost electricity customers in the New York City area as much as $800 million.

The information comes from an estimate by Consolidated Edison (NYSE: ED) and the New York Power Authority for replacing the power that is currently generated by the plant, which is owned by Entergy (NYSE: ETR). Although most of that cost would be for implementing major energy conservation efforts, some of it would be from upgrading high-voltage lines bringing power from upstate New York.

The two reactor licenses for the plant are set to expire this year and in 2015, but Entergy has said it plans to continue operating there well into the future.

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