Holtec, the company decommissioning the plant, says it would need state and federal backing to rebuild the plant.
Five years after Indian Point started shutting down, the company charged with dismantling the nuclear plant says it could still be restarted — at an estimated cost of $10 billion.
“I’m getting so many people asking me from New York if this is possible,” said Holtec International President Kelly Trice. “The answer is yes.”
Indian Point owner floats restart of shuttered nuclear reactors
Holtec, the company decommissioning the plant, says it would need state and federal backing to rebuild the plant.
The current owner of the Indian Point nuclear plant has proposed restarting it — if there’s state and federal support. | Monika Graff/Getty Images
Five years after Indian Point started shutting down, the company charged with dismantling the nuclear plant says it could still be restarted — at an estimated cost of $10 billion.
“I’m getting so many people asking me from New York if this is possible,” said Holtec International President Kelly Trice. “The answer is yes.”
Reviving the 2,000 megawatt nuclear plant would require overcoming deep-seated opposition to nuclear power in close proximity to New York City. Political — and financial — support would also be needed from the administrations of Gov. Kathy Hochul and President Donald Trump, Trice said.
Holtec’s feeler on repowering the plant — reported exclusively by POLITICO — comes amid increasing openness to nuclear power in New York, especially from Hochul. Nuclear is also one of few areas of alignment on energy policy between the governor and the White House.
With the Trump administration blocking offshore wind and slashing support for renewables, the New York City region has limited options for new energy sources amid growing affordability concerns and demand for power.
“It should never have been shut down in the first place,” said Frank Morales, president of the Utility Workers Union of America Local 1-2, which represented workers at Indian Point. “Offshore wind has been a dead subject since Trump has been in office, and we have to start considering other ways to produce that.”
Former Gov. Andrew Cuomo struck a 2017 deal with Indian Point’s owner to shut the plant over safety and environmental concerns. Cuomo is running for mayor in New York City as an independent after losing the primary and affordability has been a major issue in the race.
The shutdown of Indian Point in 2021 led to increased emissions as gas plants ramped up to replace the lost power and renewables have lagged behind. Consumers were also left more exposed to volatile gas price swings. The closure pushed electric bills up as much as $300 million more for electricity in 2022 alone, according to a conservative-leaning think tank.
A transmission line to bring 1,250 megawatts of Canadian hydropower to the city is set to be completed next year, addressing some reliability concerns. Gas prices have also dropped, eliminating potential savings from keeping the plant open.
Other shuttered nuclear plants in the U.S. are being revived to keep the lights on and data centers humming as demand for electricity ramps up.
Source: Politico