Entergy to close James A. FitzPatrick nuclear power plant on Lake Ontario

One of the best routes of doing that, according to Schumer, might be going through the New York State Public Service Commission.

"Given the financial challenges our merchant power plants face from sustained wholesale power price declines and other unfavorable market conditions, we have been assessing each asset". As our community moves forward, we will do everything that we can to support FitzPatrick employees, their families, local leaders and all of Oswego County. "Additionally, to the community of Oswego, we would like to express our gratitude for its overwhelming support and willingness to stand with us for more than 40 years".

Current and forecast power prices have fallen by about $10/MWh, costing FitzPatrick $60 million in annual revenue, the company said.

A market design that fails to "recognize or adequately compensate" nuclear generators for the benefits provided, such as fuel diversity, climate-related advantages, grid reliability, and large-scale energy generation. Entergy, which owns the plant, made the announcement Monday morning that declining profits and high operational costs were the main reasons to close the facility.

With FitzPatrick closed, Entergy will save a total of $225 million to $275 million through the year 2020, company officials estimated today.

The locational constraints reduce the plant's revenues.

Entergy says the low-priced natural gas produced by fracking from the Marcellus shale formation in New York's Southern Tier is a big factor in the plant's shutdown. After its closure, Entergy's Indian Point Energy Center will be its only power generation facility operating in New York.

Schumer says even if Entergy doesn't agree to revisit the decision, he'll look for ways to reverse it without the company's cooperation. "It provides nearly two-thirds of America's clean-air electricity".

The decision to close FitzPatrick Nuclear Power Plant in Scriba comes in spite efforts by workers and local politicians to keep FitzPatrick open, including a rally by employees last month to try and save the plant.

Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations.

Entergy's announcement over the fate of its James A. FitzPatrick plant follows closely behind its announcement that it would shut down its 680 MW Pilgrim Nuclear Power Station in Massachusetts no later than June 2019.