How much will the Ginna Bailout Cost? The nuclear power plant owner, Exelon, and the utility company, Rochester Gas and Electric (RG&E), are proposing a deal that would raise Rochester-area electricity rates with the explicit purpose of bailing out the uneconomical Ginna nuclear reactor. The proposed agreement would subsidize Ginna’s continued operation until October 2018.
Total Estimated Cost of the Bailout: $175.3 million The average cost per month for each RG&E customer would be approximately $11. Annually, customers would pay an average of $135 more for electricity. In general, customers with lower usage will pay less, while customers with higher usage would pay more. In addtition to raising electricity costs for customers, this proposal could cause local businesses to close, cut jobs or raise prices and force municipalities to raise local taxes or cut services.
Estimated 2015 monthly costs as reported by RG&E Residential Customers
Rates increase 3% – 8%, costing up to $77.43 per month ($929 per year).
Small businesses, most municipal buildings & schools, office buildings
Large industrial & commercial, hospitals and universities, large groceries
Rates increase 5% – 13%, Rates increase 4% – 30%, costing up to $891.32 per costing up to $38,647 per month ($10,696 per year). month ($463,764 per year).
Opposed to this Corporate Bailout? Contact Governor Cuomo and the Public Service Commission Today! Visit www.allianceforagreeneconomy.org/ginna to take action.