Keep Millstone running, pass competition bill
Late last week, the Connecticut Senate took a positive and proactive step on an issue of great importance for the state and the country as a whole. That issue is energy. In unanimously approving a bill that would open the door for a competitive process to obtain long-term supplies of energy at low rates for Connecticut consumers, lawmakers demonstrated a forward-thinking commitment to the reliability and security of the state’s electricity supply and a dedication to the best interests of ratepayers.
In particular, this bill would give the Connecticut Department of Energy and Environmental Protection a broader toolkit to procure lowcost, carbon-free energy, including power from the Millstone Power Station nuclear facility in Waterford. Especially at a time when partisan politics are dominating the airwaves, it is refreshing to see bipartisan support for an important policy that can benefit consumers.
This follows a recent public informational meeting convened by the legislature’s Energy and Technology Committee at which I had the honor of speaking. At that meeting, I had the opportunity to highlight the essential role that nuclear energy plays in Connecticut, as well as its many benefits nationally. The reality is that these benefits are far-reaching, from the reliability of nuclear energy, to the fact that it is carbon free, to the strong role nuclear plants play as drivers of local and state economies.
Connecticut has one nuclear plant, and that plant — the Millstone Power Station — generates nearly half (47.1 percent) of the state’s electricity. It’s not hard to imagine what the consequences would be of losing such a large producer of power for Connecticut’s homes and businesses. In addition, nuclear energy is very reliable, meaning it operates with few interruptions. In fact, the average reliability rating of nuclear plants across the United States is 92 percent, which is higher than any other source of electricity.
When it comes to environmental concerns, the picture is even more impressive. Nuclear energy produces the lion’s share — nearly 98 percent — of Connecticut’s carbon-free electricity. Using nuclear rather than fossil fuels to generate this electricity prevents more than 7.7 million metric tons of carbon dioxide from being emitted into the atmosphere, which is equivalent to the annual emissions of 1.7 million passenger cars — more than all the cars registered in Connecticut. If Connecticut is serious about reducing emissions and meeting the clean energy goals it has set, Millstone needs to keep operating.
Finally, the economic contributions of the nuclear industry to Connecticut should not be forgotten. Millstone employs over 1,400 skilled workers, and its annual payroll is $96 million. The plant pays over $17 million in state and local taxes each year. Across the U.S., the nuclear industry contributes $60 billion to gross domestic product and accounts for roughly 475,000 jobs, according to a report from economic consulting firm The Brattle Group. These are real, impactful contributions that are driving local economies and generating local tax dollars for things like school budgets and infrastructure projects.
The unfortunate reality is that nuclear plants face a perfect storm of challenges that threaten their continued operation. These challenges range from electricity markets that are not properly valuing zero-carbon electricity sources such as nuclear, flat electricity use, and a huge uptick in natural gas production.
Already, several plants have closed, and more closures have been announced, driving home the point that this is not a theoretical “whatif.” Over the past few years, the Kewaunee Plant in Wisconsin and the Vermont Yankee plant in Vermont shut down, and now Pilgrim in Massachusetts and Fitz-Patrick in New York are slated for closure. The ill effects of these shutdowns have already been felt, with increased carbon emissions, job losses, and gutted local budgets.
The clear conclusion here is that policymakers across the U.S. need to take proactive steps to ensure that our existing nuclear plants continue operating. Lawmakers in Connecticut have shown great foresight in taking a hard look at the benefits that Millstone provides to Connecticut and the consequences that would result if the plant were lost, and then taking actions to preserve these benefits.
The best way to protect the electricity supply of Connecticut’s homes and businesses is to pursue an all-of-the-above energy policy that allows fair competition among all sources. I commend the Connecticut legislature for starting this process and I urge the House to support this bill as well. Ultimately, I hope that everyone involved keeps in mind the major benefits that Millstone provides for the state.
Former U.S. Senator Evan Bayh, who served as a Democrat from Indiana, is co-chair of Nuclear Matters, a campaign promoted by the nuclear industry to preserve the nation’s existing nuclear fleet.