Wicked Local Plymouth
Oct. 13, 2015 at 8:16 AM
NEW ORLEANS – Entergy Corporation announced today that it will close the Pilgrim Nuclear Power Station in Plymouth no later than June 1, 2019, because of poor market conditions, reduced revenues and increased operational costs.
Entergy has notified the independent system operator of the electric grid, the ISO New England Inc., that as of that date, Pilgrim would not participate as a capacity resource in the market.
According to Entergy the exact timing of the shutdown will depend on several factors, including further discussion with ISO-NE, and won’t be decided in the first half of 2016.
“The decision to close Pilgrim was incredibly difficult because of the effect on our employees and the communities in which they work and live,” said Leo Denault, Entergy’s chairman and chief executive officer. “Our people at Pilgrim are dedicated and skilled, a wonderful blend of young professionals and seasoned, experienced veterans, who for decades have been generating clean power and contributing millions of dollars of economic activity to the region. But market conditions and increased costs led us to reluctantly conclude that we had no option other than to shut down the plant.”