Letter: High costs and nuclear power
As developers organization leader Desmond Ryan astutely points out, New York has an opportunity to learn from the past and avoid making the same mistakes in its approach to energy policy ["Hit the bankruptcy switch at LIPA," Opinion, Jan. 27].
The shutdown of the Shoreham nuclear plant and subsequent Long Island Lighting Co. bailout clearly demonstrated widespread and lasting economic damage from the premature closure of any regional energy and economic generator. Long Island ratepayers shoulder a nearly $7-billion debt burden and some of the highest electric costs in the nation.
This is a consequence of short-term political decision-making and should serve as a warning to those who want to shut down the Indian Point nuclear power plant.
The New York Independent System Operator, which runs New York's power market, has repeatedly warned that without Indian Point, New York would experience more frequent blackouts. The Manhattan Institute for Policy Research, a fiscally conservative think tank, notes that closing the plant would generate 26,000 to 40,000 job losses per year and electric rate increases of $1.5 billion to $2.2 billion by 2030.
Shoreham's legacy serves as a clear warning for New York to avoid heading down a similar path with Indian Point.
Arthur "Jerry" Kremer, Manhattan
Editor's note: The writer chairs the New York Affordable Reliable Electricity Alliance, an advocacy organization that includes Indian Point's owner, Entergy Corp.