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Nuclear Plant Closures Bring Economic Pain to Cities and Towns
Stateline: From the road, overgrown greenery and a formidable razor-wire fence block the view of the twin domes of Indian Point Energy Center. But Indian Point’s neighbors in this densely populated New York City suburb have a clear picture of what will happen in 2020 when this 45-year-old nuclear power plant starts to shut down: millions of dollars in lost tax revenue.
Aging nuclear power plants are closing, doomed by the high cost of refurbishing them and the low price of natural gas. That is causing fiscal pain for municipalities that rely on revenue from the plants, and creating political pressure for state subsidies to forestall further shutdowns.
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