FirstEnergy announces plans to close Beaver Valley nuclear station

Pittsburgh Business Times – Beaver Valley Nuclear Operating Station, next to the site of the nation's first commercial nuclear power plant and a major employer in Beaver County, could close in 2021 under a plan announced late Wednesday by owners FirstEnergy Corp.

FirstEnergy (NYSE: FE) ended months of speculation about the fate of Beaver Valley in Shippingport, along with two other stations it owns in Ohio (Davis-Besse Nuclear Power Station in Oak Harbor and Perry Nuclear Power Plant in Perry) by announcing all three would be shuttered by 2021. FirstEnergy filed deactivation notices Wednesday although the decision will need to be approved by PJM Interconnection and left open the chance a deal could be made with legislators or selling the plants to another buyer.

But the deactivation notices — and the more than two-year time frame — is required for what FirstEnergy called the complex process of deactivation. It's planning to file a detailed plan with the Nuclear Regulatory Commission, the federal agency that oversees nuclear power, within 30 days.

The closing of Beaver Valley would be a blow to Beaver County. There are about 1,000 employees at Beaver Valley, according to a FirstEnergy website. The nuclear station provided $4 million a year in taxes in a 2015 estimate. Beaver Valley and the FirstEnergy-owned Bruce Mansfield coal-fired plant were singled out in letters last fall to the Federal Energy Regulatory Commission from the Beaver County Commission, the United Way of Beaver County and the Allegheny Conference on Community Development as being devastating if either or both of the closed.

Read more at Pittsburgh Business Times

News Image
Beaver Valley Nuclear Plant
Topics
Energy
Action
Industry
Energy Subcategory
Source