Under the new plan, ratepayers will subsidize the operation of three of the state’s four nuclear power stations through 2029, providing funding that will average about half a billion dollars a year and could total $7.6 billion. The plan also aims to slash carbon dioxide emissions by 40 percent and produce half the state’s electricity from renewable sources by 2030.
The plants’ operators had publicly stated that they planned to shut down if regulators didn’t come up with public funding. Entergy, which owns the James A. FitzPatrick plant, situated on the shore of Lake Ontario, said it would shut the plant down by early 2017. Exelon, owner of the R.E. Ginna and Nine Mile Point plants, has said it would close those plants in the next few years without state support. (The Indian Point Energy Center, located near New York City, is not included in the new subsidies because, the commission stated, power prices are higher in its region and the plant is not in danger of closing.)
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.