N.Y. power seen sufficient after Indian Point nuclear retirement: report

(Reuters) - New York’s power grid operator said on Wednesday the state should have enough electricity after the closure of two reactors at the Indian Point nuclear power plant in 2020 and 2021, as new sources of mostly natural gas-fired generation enter service.

In a report, the New York Independent System Operator (NYISO), which operates the state’s power grid, said the system would remain reliable during the five-year period (2018-2023) it studied.

Entergy Corp said in January it would shut the two reactors at its 2,069-megawatt Indian Point station for economic and other reasons as cheap gas prices from nearby shale formations like the Marcellus in Pennsylvania have driven down power prices.

The NYISO said it expected at least three large gas-fired power plants currently under construction to enter service over the next few years, including a 120-MW addition to the Bayonne Energy Center in New Jersey, Competitive Power Ventures’ 678-MW Valley Energy Center in New York and Advanced Power Services’ 1,020-MW Cricket Valley Energy Center in New York.

One megawatt can power about 1,000 U.S. homes.

The Bayonne plant is tied into New York City’s power grid. It is owned by Macquarie Infrastructure Corp, part of the family of companies overseen by Australian investment bank Macquarie Group Ltd.

Reporting by Scott DiSavino; Editing by David Gregorio