RGGI Saves Pittsburgh Nuclear Plant
March 16, 2020
The 1,872 MW Beaver Valley nuclear power plant near Pittsburgh will stay open. Energy Harbor Corp, formerly FirstEnergy Solutions, made the announcement last week in response to the State’s move to join the Regional Greenhouse Gas Initiative (RGGI). RGGI requires fossil fuel power plants in participating states to pay a fee for carbon emissions.
Two years ago, FirstEnergy Solutions cited economics when it announced plans to close the plant. RGGI’s most recent auction had carbon allowances at $5.65 per ton. A study by Resources for the Future claims a carbon price of $3 to $4 per ton is enough to make the state’s nuclear plants competitive.