Dominion plans to shut down Kewaunee nuclear power plant
Virginia-based Dominion Resources announced today that it will shutter its nuclear power plant near Kewaunee.
Dominion purchased the 38-year old Kewaunee Power Station, one of just two Wisconsin sites producing nuclear power, in 2005, but announced last spring it would seek to sell the plant after a regular review of its assets. The decision to decommission the plant comes after Dominion was unable to find a buyer for the plant.
"This was an extremely difficult decision, especially in light of how well the station is running and the dedication of the employees," Dominion President and CEO Thomas F. Farrell II said in a statement. "This decision was based purely on economics. Dominion was not able to move forward with our plan to grow our nuclear fleet in the Midwest to take advantage of economies of scale."
Public Service Commission Chairman Phil Montgomery said in a statement he remains "optimistic about Wisconsin's energy future."
"Wisconsin utilities have made prudent investments in a diversified energy portfolio including coal, nuclear, natural gas, hydroelectric power, biomass, wind, and solar," Montgomery said. "We have the capacity to meet electric reliability expectations today, and will continue to meet these obligations down the road."
Gov. Scott Walker said the announcement "highlights the need to decrease unnecessary federal regulations slowing the process for companies, like Dominion, to take advantage of economies of scale and keep their businesses profitable and open."
Gov. Walker statement