Indian Point Energy Center has a generating capacity of more than 2,000 megawatts of electricity, or approximately 25% of the electric power used in New York City and Westchester. Indian Point provides enough power to light about 2 million homes, thousands of businesses, and hundreds of critical transportation, health and municipal systems.
It has been estimated that replacing the 2,000 megawatts produced by Indian Point would cost New Yorkers more than $1 billion per year in higher energy prices. The NYISO, the operator of the state’s electric grid, continues to warn that without additional generation or transmission upgrades, the loss of Indian Point will lead to electricity shortages and reduced reliability.
Nuclear energy is a price-stable energy source. Because it is produced within the consuming region, and it is not affected by international pressures, it does not fluctuate like the price of natural gas.
A 2012 report from the Manhattan Institute concluded that shutting down Indian Point would cost consumers approximately $30 billion over a 15-year period.
Locally, Indian Point Energy Center employs approximately 1,000 highly skilled, highly trained workers and approximately 150 contractors. These employees earn a payroll of $140 million annually.
Indian Point paid about $30 million in state and local property taxes in 2014. This amount does not include the significant personal and property taxes paid by individual Entergy employees.