The Millstone Nuclear Power Station and Connecticut’s two utilities beat a negotiating deadline to keep the plant running for at least another 10 years.
State energy officials recommended Thursday that the Millstone nuclear power station be allowed to offer further evidence of financial distress as part of a new procurement process that could enhance the profitability of Connecticut’s biggest source of zero-carbon electricity.
A long-awaited assessment of the energy market released Monday by the state Department of Energy and Environmental Protection and the Public Utilities Regulatory Authority does not resolve questions about the economic viability of the region’s biggest provider of carbon-free electricity, the Millstone nuclear station at Waterford. State officials say they need more information from its owner, Dominion Energy.
State energy officials concluded in a preliminary report released Thursday that the Millstone nuclear power station in Waterford will be profitable through 2035, undercutting its owner’s assertion that Connecticut must change how its electricity is sold or face the early retirement of New England’s largest source of carbon-free power. But they reached no conclusions on whether the profits represent a sufficient return on investment for the owner, Dominion Energy.
Gov. Dannel P. Malloy signed a bill Tuesday that allows the state to enhance the profitability of Dominion Energy’s Millstone nuclear power plant in Waterford, while pointedly asserting that Dominion has not convinced his administration any such help is warranted.
One of the non-fiscal elements of the tentative budget deal calls for the House Democratic leadership to allow a vote on a bill designed to improve the profitability of Connecticut’s last nuclear power plant, Millstone, the subject of an epic lobbying campaign by its owner, Dominion Energy.
A two-year political odyssey by Dominion Energy to convince the Connecticut General Assembly that its Millstone nuclear station needed new rules for selling electricity to remain economically viable neared an end Friday.
The Connecticut General Assembly and the administration of Gov. Dannel P. Malloy have agreed in principle on bipartisan legislation authorizing state energy officials to take measures to stabilize the profitability of New England’s largest power plant, the Millstone nuclear station in Waterford.
After lobbying for financial relief for two years, Dominion Energy was non-committal Thursday about providing financial data sought by two state agencies tasked with assessing the financial viability of its Millstone nuclear power plant.
Call it a sign of desperation or a mark of creativity. One of the unconventional revenue-raising schemes considered by legislators in pursuit of an overdue budget would have Connecticut extract millions of dollars from Dominion Energy in return for legislation boosting the profitability of electricity generated by the company’s Millstone nuclear power plant.
Gov. Dannel P. Malloy signed an executive order Tuesday aimed at resolving hotly contested questions about the economic viability of the Millstone Power Station, a nuclear-powered generator of electricity crucial to Connecticut’s goals for reducing greenhouse gas emissions. The plant’s owner warned it needs immediate changes to keep Millstone open.
Dominion Energy and its allies in the Senate Republican caucus managed Wednesday to salvage elements of a bill intended to stabilize the profitability of Millstone Power Station, a nuclear plant that produces nearly all of Connecticut’s carbon-free electricity.
State legislators are grappling for the second year in a row over whether to allow the owners of the Millstone Nuclear Power Station to sell electricity to Connecticut’s utilities.
A national campaign by the nuclear industry to stabilize profits in a volatile energy market scored a victory Friday night with the unanimous passage of bipartisan legislation changing the rules for procuring electricity in Connecticut, a state heavily reliant on nuclear power.
The economic viability of the Millstone nuclear station in Waterford, the largest power plant in New England and a crucial factor in Connecticut’s commitment to reduce greenhouse gases, is about to become a major issue in Hartford.