Closing Indian Point Could Cost Billions: Study

The report says closing the plant would add nearly $80 to the average household's annual bill

Tuesday, Sep 18, 2012  |  Updated 1:09 PM EDT
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A new report says ripple effects from closing the Indian Point nuclear plant could cost billions of dollars a year.

The report from the fiscally conservative Manhattan Institute estimates a shutdown would add at least $76 to the average New York household's annual electric bill.

It says businesses and industries would pay much more, and as many as 40,000 jobs a year could be lost.

The report adds to a pile of studies that have reached varying conclusions on the value of Indian Point, 35 miles from Manhattan. Plant owner Entergy Nuclear is seeking 20-year license extensions.

Gov. Andrew Cuomo and several environmental groups oppose the new licenses.

The report says alternatives to Indian Point's nuclear power, such as new gas-fired plants and new transmission lines, would be costlier.

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