HeadlinesBriefing favicon HeadlinesBriefing.com

Nuclear Plant Restart: $12B Cost to Power NYC

Bloomberg Markets •
×

US Energy Secretary Chris Wright is pushing to reopen the shuttered Indian Point nuclear plant north of New York City, citing surging electricity demand. Wright toured the facility Friday alongside New York Congressman Mike Lawler, who argued the plant could be rebuilt to generate power for the region. The facility was decommissioned in 2021.

Holtec International, which owns the site, is currently decommissioning the plant. Company spokesman Patrick O'Brien said Holtec has no plans to restart operations but acknowledged it could be done. O'Brien estimated the project would cost between $10 billion and $12 billion and take about five years to complete.

The call to restart Indian Point comes as New York faces growing pressure to meet increasing energy needs. The plant's closure three years ago removed a major power source from the region's grid. Wright and Lawler argue that restarting the facility could help address the state's power supply challenges.