WNPR

Malloy Orders Economic Review Of Millstone Power Plant

Jul 26, 2017
Originally published on July 26, 2017 3:05 pm

On Tuesday Connecticut Governor Dannel Malloy signed an executive order to review the economic viability of the Millstone Nuclear Power Station.  The outcome of the study could decide if the plant will remain open.   

Malloy said the review is necessary to determine a path forward for Millstone that would be beneficial to the residents of Connecticut.

The Waterford-based plant employs over 1,000 people and generates half of the electricity used in the state.  

Earlier this year, state lawmakers failed to pass a bill to financially help the plant, in part, because Millstone’s owner, Dominion, wouldn’t share details of its finances.

Like other energy producers, Dominion sells energy from its Millstone Plant through hedge funds and other middlemen. Dominion had said it needed to sell power directly to the state in order to remain economically viable. But that bill never made it to a vote.   

Dominion CEO Paul Koonce responded to Malloy’s executive order in a statement that said the time for a state study has passed and Dominion will move forward with its own assessment of its financial conditions.  

Koonce said without state action on their request the “the prospects for continued operation of Millstone diminish.”

The state study is expected to be submitted to lawmakers before the start of the 2018 legislative session.

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