• 4 hours Midwestern Refiners Seek Canadian Oil To Expand Output
  • 9 hours UK On Track To Approve Construction of “Mini” Nuclear Reactors
  • 13 hours LNG Glut To Continue Into 2020s, IEA Says
  • 15 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 18 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 20 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 21 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 4 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 4 days Schlumberger Warns Of Moderating Investment In North America
  • 4 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 4 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 4 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 4 days New Video Game Targets Oil Infrastructure
  • 4 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 5 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 5 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 5 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 5 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 5 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 5 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 6 days Russia, Saudis Team Up To Boost Fracking Tech
  • 6 days Conflicting News Spurs Doubt On Aramco IPO
  • 6 days Exxon Starts Production At New Refinery In Texas
  • 6 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 7 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 7 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 7 days China To Take 5% Of Rosneft’s Output In New Deal
  • 7 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 7 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 7 days VW Fails To Secure Critical Commodity For EVs
  • 7 days Enbridge Pipeline Expansion Finally Approved
  • 7 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
Alt Text

Russia’s Nuclear Sector Is Surging

With a long-standing nuclear tradition,…

Alt Text

New Tech Is Transforming Japan’s Energy Sector

The tech that built bitcoin…

Alt Text

This OPEC Strategy Could Boost Uranium Prices Next Year

Kazakhstan, the world’s largest uranium…

Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for US-based Divergente LLC consulting firm, and a member of the Creative Professionals Networking Group.

More Info

Controversial Lake Michigan Nuclear Power Plant To Stay Open

Palisades Power Plant

After a failed deal that would have partially funded the decommissioning of Entergy’s Palisades Nuclear Power Plant in Covert, Michigan, the decision has been made to keep the plant open past its original closing date, according to a company press release issued on Thursday.

The plant, situated squarely on the shores of Lake Michigan, was originally set to close in October of next year, due to the “business risks of continued operations,” but will now remain operational until Spring of 2022.

“We determined that a shutdown in 2018 is prudent when comparing the transaction to the business risks of continued operations,” Entergy’s chairman and CEO said in a December 2016 press release, adding that “Market conditions have changed substantially, and more economic alternatives are now available to provide reliable power to the region.”

Entergy did not specify what those “more economic alternatives” were.

Contradicting the December decision to close based on economics, Entergy today decided it is more prudent to keep the plant open until 2022, after state regulators disallowed Consumer’s Energy to pass on the full $172 million in recovery costs to its customers. The money would have been paid to Entergy to back out of the contract, and ultimately used to pay for plant decommissioning.

State regulators agreed to only $136 million for recovery—a reduction that apparently is a deal-breaker.

Setting aside the economic reasons, the December notice to close the Palisades plant early came just months after a 2016 letter to Entergy from the US Nuclear Regulatory Commission (NRC) in response to a 2013 leak of “slightly” radioactive water into Lake Michigan. The NRC gave Entergy notice that three violations had been identified and were being considered for “escalated enforcement”.  The violations included “willful failure” to enter information concerning the leak, among other things. Related: Oil Prices Haven’t Plateaued Yet

This leak was not an isolated incident—from 2012 to 2013, the Palisades was shut down at least six times to deal with leaks, and the Palisades has been plagued with troubles since shortly after construction in 1966, when Consumer’s—then owner—filed lawsuits against the five companies that built and designed the plant, citing everything from defective equipment to faulty design. The plant was shut for over a year starting in 1973 after a radioactive leak was discovered that sent large amounts of poisonous radiation into both the atmosphere and Lake Michigan, according to an Ann Arbor Sun article from 1974.

While anti-nuclear activists cheered the early closure plans which are now a thing of the past, many local residents, including the public school system that relies on the Palisades for nearly half of its budget, are relieved that the closure has been delayed.

The nuclear facility—located just 8 miles from South Haven’s popular tourist attraction, North Beach—employs just 600 people, and is the largest taxpayer in the county.

The closure—and decision to delay that closure—highlights the tricky tradeoff between public safety, operational costs, and near-carbon-neutral energy.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News