A report from Charles River Associates found that if the 2,045 MW Indian Point nuclear power plant owned by Entergy (NYSE: ETR) were to close down, electricity prices would rise, air quality would be affected and reliability problems could be increased.
The consulting firm was hired by the New York City Department of Environmental Protection to assess how closing Indian Point could affect people living in New York.
The study said consumers in New York City could pay between $2 billion and $3 billion in higher energy costs. Statewide, consumers could pay between $10 billion and $12 billion more in energy costs through 2030, excluding additional expenses that may be required to build power plants to replace the nuclear generating capacity.
Closing the nuclear station would likely lead to a greater reliance on fossil fuels for electric power generation, leading to a rise in greenhouse gas emissions. The study said the state would see approximately a 15 percent increase in carbon emissions and a 7 to 8 percent increase in nitrogen oxide emissions.
The DEP commissioned the report to analyze the impact of the plant on the region's economy, environment and supply of reliable electricity.
Subscribe to Nuclear Power International magazine