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Despite Criticism Of Millstone, Malloy Signs Energy Bill

Millstone Power Station

Governor Dannel Malloy signed a bill Tuesday that could change the way Connecticut's only nuclear power plant sells its energy.

The bill could potentially allow the Millstone Power Station to sell its power alongside higher-priced zero-carbon sources like solar and wind.

Nuclear energy has taken a financial hit in recent years as natural gas prices have fallen.

Now, Dominion, which owns the Waterford-based plant, could compete against those renewables -- but only if state regulators say it's in the interest of ratepayers and Connecticut's long-term carbon goals.

“The importance of this asset to both the state and the region cannot be overstated,” Malloy said, in a statement. “If we are to realize the goals set out by this legislation, there is more work to be done.”

Malloy said the company needs to be "significantly" more forthcoming about its financial hardship.

A preliminary analysis released Monday said Millstone is expected to be highly profitable through 2035.

In a letter to Malloy, Department of Energy and Environmental Protection Commissioner Rob Klee said between 2022 and 2035, it’s estimated Dominion will make around $2.3 billion off the power plant.

“As such, there is unlikely to be a basis upon which to conclude at this time that Dominion requires electric ratepayers to provide financial support outside the regional market in order for Millstone to continue operating profitably,” Klee wrote.

Patrick Skahill is a reporter and digital editor at Connecticut Public. Prior to becoming a reporter, he was the founding producer of Connecticut Public Radio's The Colin McEnroe Show, which began in 2009. Patrick's reporting has appeared on NPR's Morning Edition, Here & Now, and All Things Considered. He has also reported for the Marketplace Morning Report. He can be reached at pskahill@ctpublic.org.

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SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

Together, we can defend it. It’s time to protect what matters.

Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.