Last week, Monday, Entergy announced that it intends to close the James A. FitzPatrick Nuclear Power Plant near Syracuse late next year and into 2017, citing “significantly reduced plant revenues due to low natural gas prices, a poor market design that fails to properly compensate nuclear generators like FitzPatrick for their benefits, as well as high operational costs.”
The closing of the plant, located in Oswego County, comes after failed negotiations with the state over ways to avoid a shutdown. The plant employs 600 people and pays about $17 million in taxes annually. The company says that the plant loses about $60 million per year.
Gov. Cuomo released the following statement:
“The closing of the James A. FitzPatrick Nuclear Power Plant will devastate the lives of the more than 600 employees and their families. Good corporate citizenship must appreciate that there are many factors that count as the “bottom line.” The State of New York will pursue every legal and regulatory avenue in an attempt to stop Entergy’s actions and its callous disregard for their skilled and loyal workforce.”