This update features policy, regulatory, legislative, and regional developments in Connecticut and New England. The policy updates are compiled by the CPES New Energy Professionals Team. If you are interested in learning more about the New Energy Professionals, the Policy Committee, or if you have ideas for future policy updates, we would welcome your input and feedback. Please send comments to Kathryn Dube, CPES Executive Director, via email: kdube@ctpower.org.
In this Update:
- Millstone Finances Expected To Be Strong In Coming Years
REGIONAL AND INDUSTRY DEVELOPMENTS
MILLSTONE FINANCES EXPECTED TO BE STRONG IN COMING YEARS
The Millstone nuclear plant in Waterford is expected to be profitable, according to a state report examining whether Connecticut’s sole plant is able to remain in business.
The Millstone Power Station is expected to be profitable for years to come, according to preliminary results released Thursday from a study that Gov. Dannel P. Malloy ordered to determine if it can operate in energy markets increasingly dominated by natural gas. The report, issued by the Department of Energy and Environmental Protection and Public Utilities Regulatory Authority, said that under various market conditions the present value of Millstone’s cash flow from 2021 through 2035 is expected to be between $1.3 billion and about $2.4 billion. Even at the low end, Connecticut’s sole nuclear plant should remain “deep in the black,” the study said. The financial results show Millstone “is likely to operate profitably from the early 2020s through the mid-2030s,” the report said.