Closing Indian Point Could Be Costly

From the New York Times:

CLOSING the Indian Point nuclear power plant in Buchanan could have dire consequences for the county’s economy, according to a new report by the Westchester Business Alliance, a coalition of regional groups.

Electricity bills would soar, and job growth — as well as property values — would suffer, said the report, which was issued on Jan. 31.

The study, prepared by Energy Strategies, consultants in Albany, said that closing the two reactors at Indian Point without creating alternative energy sources — which are not on the horizon — would cause electricity prices in Westchester County to rise more than 150 percent by 2017. Under the consultants’ estimates, the average annual residential electric bill in Westchester would jump to $2,500 from $1,000.

More here. For those who don't remember, the National Academy of Sciences came to similar conclusions in a study they completed back in 2006. And several years prior to that, NEI conducted an economic benefits study of Indian Point and found that for every dollar the plant spends, the U.S. economy produces $2.35 as a result (p. 23).

In two years I'm sure we'll see another study concluding the same intrinsic value of Indian Point to its community.