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Home Themes Nuclear Renaissance

Nuclear Power Set to Compete with Wind and Solar in New England

by Team Lumida
June 10, 2024
in Nuclear Renaissance
Reading Time: 3 mins read
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white concrete building under white clouds during daytime

Photo by Lukáš Lehotský on Unsplash

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Key Takeaways:

  1. Massachusetts may classify nuclear power as clean energy, enabling reactors to compete for state contracts.
  2. This shift could secure the future of the Seabrook and Millstone nuclear plants.
  3. The legislation aims to diversify clean energy sources and reduce reliance on fossil fuels.

What Happened?

Massachusetts lawmakers are poised to classify nuclear power as a clean energy source, enabling nuclear plants to compete for state contracts traditionally reserved for wind, solar, and hydroelectric power. This move aims to help the Seabrook Nuclear Power Plant in New Hampshire and the Millstone Nuclear Power Plant in Connecticut stay operational.

Together, these reactors supply at least 20% of New England’s power, making nuclear energy the region’s second-largest electricity source after natural gas. Representative Jeff Roy and Senator Mike Barrett, co-chairs of the Legislature’s Energy Committee, support this inclusion in the upcoming climate bill.

Why It Matters?

This legislative change is crucial for several reasons. First, it acknowledges nuclear power as a viable clean energy source, helping Massachusetts meet its carbon reduction targets by 2030. With only one offshore wind farm currently operational and rising costs hindering additional projects, nuclear power offers a stable, low-emission alternative.

Second, the legislation could ensure the continued operation of Seabrook and Millstone, which are vital for regional energy stability. Dominion and NextEra, the companies operating these reactors, welcomed the move, noting that their facilities are essential for meeting New England’s climate goals. Environmental groups like the Conservation Law Foundation also back the initiative, recognizing the role of nuclear power in combating climate change.

What’s Next?

If the bill passes, nuclear energy could become a more prominent player in Massachusetts’ clean energy strategy. This shift may encourage other states to adopt similar pro-nuclear policies, further diversifying the nation’s clean energy portfolio. However, challenges remain, including public opposition and the high costs associated with nuclear energy.

Critics like Vick Mohanka from the Sierra Club argue that the focus should be on new clean energy sources rather than supporting existing nuclear plants. Despite these hurdles, the move could set a precedent for integrating nuclear power into broader clean energy initiatives, potentially leading to more state-level policies aimed at maintaining the existing nuclear fleet.

Source: Bostonglobe
Tags: clean energy legislationMassachusetts climate billMillstone Nuclear Power PlantSeabrook Nuclear Power Plant
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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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