3.30.17: Statement on Millstone Decision to Forego Retirement Bid Submittal

For Immediate Release: March 30, 2017

 

 STATEMENT ON MILLSTONE DECISION TO FOREGO RETIREMENT BID SUBMITTAL

Hartford, CT -- Matt Fossen, spokesman for the Stop the Millstone Payout coalition, released the following statement today in light of the Millstone nuclear plant’s decision to remain in operation until at least 2022.

“Dominion Resources’ decision to not opt Millstone out of the capacity market means it is obligated to stay open until at least 2022. Yet in meetings at the Capitol, Millstone’s lobbyists make it sound like there is a dire, impending threat to the plant’s existence. Both of these things cannot be true."

This latest development – which guarantees Millstone’s operation for another 5 years – undercuts the credibility of Millstone’s owner, Virginia based Fortune 500 firm Dominion Resources, which continues to paint Millstone as financially distressed and in need of a special deal.

“The deadline has come and gone but Millstone made absolutely no indication that the plant has any intention of closing,” Fossen added. “This is yet another sign of Millstone’s double-speak. They are trying to convince lawmakers that Millstone needs a huge subsidy – when every shred of evidence proves the plant is profitable and has no intention of shutting down.”

“The only thing SB 106 would do is give a huge corporate payout to a Virginia based company. Connecticut can't allow that to happen. It's time to stop the Millstone payout,” concluded Fossen.

Under the FERC approved tariff of the ISO-New England regional wholesale energy market, March 24th was the deadline for Millstone to indicate its desire to exit the market. If Millstone was truly in financial distress, it would have filed a submission to ISO-New England of a priced Retirement De-list or Permanent De-list bid by the March 24 deadline. The fact that Millstone did not signal any potential disruption of its obligation to provide Millstone’s capacity to Connecticut and the region means the plant is committed to operating through May of 2022.

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