Texas Nuclear Power Plants Pump $4.4 Billion per Year into State Economy

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

NEI reports that the operation of four nuclear power reactors by two Texas generating companies creates $4.4 billion in annual economic output in local communities and is responsible for more than 9,000 jobs across the state, according to a new Nuclear Energy Institute study. The report shows that the Luminant Comanche Peak Nuclear Power Plant and the South Texas Project, operated by STP Nuclear Operating Co. are vital to their local and state economies through their taxes, wages, and purchases of supplies and services. Comanche Peak is the largest taxpayer in Somervell County, while the South Texas Project ranks among the largest in Matagorda County. Each facility generates approximately $70 million a year in state and local taxes, and operation of these plants contributes $2.9 billion to the Texas gross state product each year. The four reactors provide nearly 5,000 megawatts of around-the-clock electricity for Texas homes and businesses.

Over the past 10 years, the facilities have operated at an average of 93 percent capacityâ€â€Âsignificantly higher than all other forms of electric generation. The Comanche Peak and South Texas Project reactors account for nearly 10 percent of Texas total electricity generation. Because these reactors produce no greenhouse gases, they account for half of the state carbon-free electricity. Without them, an additional 28 million metric tons of carbon dioxide would be released within the state annually, the emissions equivalent of more than 6 million cars. In 2010, STP Nuclear Operating Co. applied to the NRC to renew the operating licenses of its two reactors for an additional 20 years. If the NRC approves the applications, STP renewed licenses will expire in 2047 and 2048. Comanche Peak also plans to apply to renew the licenses of its two reactors. If the NRC approves the applications, its renewed licenses would expire in 2050 and 2053.

Original URL: http://www.nei.org/News-Media/Media-Room/News-Releases/Texas-Nuclear-Power-Plants-Pump-4-4-Billion-Year-i