NewEnergyNews: Nuclear Power Going Broke

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    Thursday, May 17, 2018

    Nuclear Power Going Broke

    One-Fourth of U.S. Nuclear Plants Are at Risk of Early Retirement

    Tim Loh, May 15, 2018 (Bloomberg News)

    “More than a quarter of U.S. nuclear power plants don’t make enough money to cover their operating costs, raising the threat of more early retirements…Of the 66 nuclear power plants operating in the U.S., 24 [representing 32.5 GW of capacity] are either scheduled to close or probably won’t make money through 2021, according Nicholas Steckler, an analyst with Bloomberg New Energy Finance…It would cost about $1.3 billion a year to plug the revenue gaps for these struggling sites…[A similar analysis in March] showed that half of U.S. coal-fired power plant capacity is on shaky ground…The average U.S. nuclear plant still is expected to make money before taxes, especially on the East Coast…[And policymakers in New York, Illinois and New Jersey have provided incentives for] struggling plants thanks to their emissions-free generation and concerns about job losses…[But] the industry is increasingly challenged by sluggish power demand, cheap natural gas and the rise of renewable energy -- especially in the Midwest where wind power is ascendant.” click here for more

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