Study assess economic impact of Connecticut nuclear plant

A study titled “Economic Impacts of the Millstone Nuclear Power Plant" assesses current output of,  and anticipates future economic benefits from, the Millstone Power Station in Waterford, Connecticut, operated by Dominion Resources Inc.

The study presented by the Washington, D.C.-based Nuclear Energy Institute (NEI) examines the power plant’s current productivity and predicts its output over the next 15 years. Findings reveal that Millstone currently creates approximately $1.3 billion in benefits in Connecticut and matches that figure throughout the remaining New England states, the NEI study said.

The facility has delivered carbon-free electric power since 1970. The plant not only produces jobs and economic gains, but renders the Millstone site a key contributor to the economy of Connecticut and surrounding areas, the NEI said.

“The study confirms that … Millstone and its employees are important to the quality of life of those who live in the communities around the facility,” Revis James, NEI vice president of policy development and planning, said.

The plant has created over 12,000 jobs, with nearly 4,800 in state and over 7,300 regionally. It provides reliable power, acts as one of the state’s key taxpayers, stimulates the economy and provides quality clean air for the region, according to NEI.

“Millstone is a major energy asset for Connecticut and plays a vital role as an economic engine benefiting the local community and thousands of workers in the state,” Dominion Senior Vice President and Chief Nuclear Officer Dan Stoddard said. “We are an active corporate citizen in southeastern Connecticut and are committed to providing low-cost, carbon-free, around-the-clock electricity to benefit customers.”

NEI’s report predicts that between 2016 and 2030, the Millstone operation will generate  over $12 billion in Connecticut; plus over $6 billion in the form of savings derived from emissions avoidance.