WASHINGTON, D.C.—Addressing four standing committees in the New York General Assembly, the Nuclear Energy Institute’s president and chief executive officer Maria Korsnick today said that nuclear energy is essential for New York to meet its environmental goals, and that retention of nuclear facilities in upstate New York will preserve thousands of high-paying jobs and billions in economic activity.
Last year New York Gov. Andrew Cuomo championed a first of its kind Clean Energy Standard, which the state public service commission subsequently approved. The precedent setting initiative embraces all clean energy sources—renewable and nuclear—in an effort to meet the state’s ambitious carbon reduction goals. Gov. Cuomo called for a clean energy standard on the grounds that closure of nuclear energy facilities in his state “would eviscerate the emission reductions achieved through the state’s renewable energy programs, diminish fuel diversity, increase price volatility, and financially harm host communities.”
Monday before state lawmakers, Korsnick echoed the governor’s sentiment. “The Clean Energy Standard promotes renewable use in the state along with the preservation of nuclear energy. When nuclear plants close, costs and emissions increase.”
Acknowledging the threat some nuclear plants could lock their gates forever, Korsnick identified New York’s zero emission credit as a “template for other states to value the non-emitting attribute of nuclear plants that was being ignored” in electricity markets. New York’s landmark policy choice has been highlighted for other state lawmakers by the National Conference of State Legislatures, she noted.
“New York has demonstrated that policymakers at the state level can act with urgency to address the important issues facing us all. That is leadership,” she said.
About 80 miles east of Albany, the Vermont Yankee Nuclear Power Station closed at the end of 2014. The electricity it generated, Korsnick noted, was completely replaced by natural gas. Carbon emissions increased 5 percent in New England in 2015 following the loss of Vermont Yankee, she said.
“When [nuclear] plants close the pattern is clear,” Korsnick told the lawmakers. “Carbon emissions increase and so do electricity prices.”
“We saw a similar story in California where the closure of the San Onofre Nuclear Generating Station resulted in higher electricity bills and increased emissions,” Korsnick added. “New York’s approach provides a better path forward. It allows the state to build upon what it has rather than replace what it stands to lose.”
New York’s upstate reactors support nearly 25,000 jobs, are responsible for $144 million in net state tax revenues, and contribute $5.25 billion in gross output. The Brattle Group estimates that New Yorkers would pay $1.7 billion more for their electricity if the state’s nuclear plants were to close. And without the state’s reactors, electricity costs to consumers, industry and businesses will increase by almost $15 billion over 10 years.
The upstate plants also help New York avoid almost 16 million tons of CO2 emissions annually.
“New York is a leader in addressing environmental issues,” Korsnick told the state lawmakers, “and it has set ambitious goals to meet” its environmental targets. “The state’s nuclear plants are essential in achieving these goals.”