NY nuclear plan would cost $1B over 2 years

[bananas]

Source: Poughkeepsie Journal

A newly proposed plan to save upstate New York's aging nuclear plants would cost electric utilities nearly $1 billion in its first two years, according to the state Department of Public Service.

The proposal, unveiled late last week, would require electric utility companies -- and ultimately, their customers -- to purchase energy from the three remaining upstate nuclear power plants at an inflated rate in an attempt to keep them in service.

<snip>

Unlike an earlier outline, the state's formal proposal does not completely shut the door on Indian Point receiving the credits.

<snip>

A public comment period will be open until July 18, after which the state Public Service Commission can vote on it.

<snip>

Critics of nuclear energy were angered by the new proposal, which was significantly costlier than original projects.

In a cost analysis earlier this year, the state determined zero-emissions credits may cost between $59 million and $658 million by 2023. But the new proposal bumped up the credits to account for the "social costs" of carbon pollution.

In a joint statement, the Alliance for a Green Economy and the Nuclear Information and Resource Service -- nuclear-energy critics -- called the plan "ill-conceived."

“This new proposal doesn’t change the fact that the Public Service Commission and the governor are still intending to throw away billions of dollars on uneconomical dirty nuclear plants, when that money should be going toward renewables and efficiency," the groups wrote.

<snip>

Read more: http://www.poughkeepsiejournal.com/story/news/local/new-york/2016/07/11/ny-nuclear-plan-1b/86958844/

---

The exact same story appears at many newspaper websites:
http://www.ithacajournal.com/story/news/local/new-york/2016/07/11/ny-nuclear-plan-1b/86959154/
http://www.democratandchronicle.com/story/news/politics/blogs/vote-up/2016/07/11/ny-nuclear-plan-would-cost-1b/86958528/
http://www.lohud.com/story/news/politics/politics-on-the-hudson/2016/07/11/ny-nuclear-plan-1-billion/86956220/

[bananas]

1. This is throwing good money after bad. nt

[RobertEarl]

2. It's like a boat

A hole in the water to throw money in to.

As we see once again, capitalists want society to bail them out. Of course we all will pay in the end, one way or another, as these places crumble and leak, and maybe even explode.