According to a report by Reuters, New York’s electric grid operator said on Thursday the state should have enough power resources to meet customer needs until at least 2019, if demand grows as currently forecast. However, the New York Independent System Operator also raised concern about the future of the Indian Point nuclear plan, writing that it represents “one of the biggest risks to the reliability of the state’s grid.” Indian Point supplies a quarter of the power used by New York City. But there are doubts whether the plant’s federal licenses will be renewed when they expire this year and 2015.
The Cuomo administration has called for Indian Point’s closure and state regulators have told utilities to move ahead with an $800 million contingency plan in the event Indian Point closes in 2016. However, The Business Council believes the governor has not adequately examined the economic impact that would result from the loss of the nuclear plant.
“Unlike typical rate increases that only affect specific utility customers, all New Yorkers are being asked to bankroll this (contingency plan), effectively subsidizing the electricity of New York City and Westchester County customers,” Heather Briccetti, president and CEO of The Business Council of New York State, wrote regulators several months ago.