Basic Facts:
- Location: Covert Township, Michigan
- Owner / Operator: Holtec International
- Construction Cost: $800M (2018$)
- Plant Output: 800 MW
- Property Size: 430 acres
- Employees: 650
- Status: Shut Down Scheduled 2022
- Current DTF Balance: $520M (2018$)
- DTF Balance Prior to Decommissioning: $540M (2018$)
- Decommissioning Cost Estimate: $560M (2018$)
- Spent Nuclear Fuel on Site: 695 metric tons
Background
Palisades is an 800MW pressurized water reactor that was built between 1967 and 1970 and received its operating license in 1971. In 2007, the plant received an operating license renewal extending the operating life of the plant to 2031. In 2016, the plant owners announced plans to close the plant in 2018. This decision was later amended and the plant is now scheduled to be shut down in 2022.
Decommissioning
In August of 2018, Entergy announced plans to sell the subsidiary that owns the Palisades Power Plant, after its shutdown and reactor defueling, to a Holtec International subsidiary for decommissioning. The operating license was transferred from Entergy to Holtec International on June 28, 2022.
Socioeconomics
The Palisades Nuclear Plant is located in Van Buren County, Michigan. As of 2016:
- Population: 75,000
- Per Capita Annual Income: $39,000
- Unemployment rate (not seasonally adjusted): 5.8%
Palisades nuclear is one of the largest taxpayers in Van Buren County, paying $9.9 million in property taxes in 2016, which comprised 7% of the county’s tax base. The plant provides $67 million in annual wages for its 650 full-time employees.
Contact Information
Economic Development Administration Representative:
- Lee Shirey, Chicago Regional Office, t: (215) 597-8719, e: lshirey@eda.gov
Economic Development District
University Center
Nuclear Regulatory Commission Contact
- Viktoria Mitlyng, Sr. Public Affairs Officer, t: (630) 829-9662, e: viktoria.mitlyng@nrc.gov
- Palisades Nuclear Plant
Unless specific costing information has been provided, decommissioning costs were derived from 2017 Decommissioning Funding Status Report.
Information herein obtained from public sources. Corrections are welcome and may be directed to info@decommissioningcollaborative.org.
Additional Information
Federal money could supercharge state efforts to preserve nuclear power
Federal money could supercharge state efforts to preserve nuclear power – StatelineA $1.5 billion federal loan could enable a privately owned Michigan nuclear plant to be the first to restart operations after shutting down.
Gretchen Whitmer seeks another $150M to restart Palisades nuclear plant
Gretchen Whitmer seeks another $150M to restart Palisades nuclear plant | Bridge Michigan The plant could be a key for Michigan to realize its transition away from fossil fuels, but environmental groups are upset by the governor’s proposal to double the state’s financial support for Palisades.
NRC, Holtec meet to discuss Palisades plans
NRC, Holtec meet to discuss Palisades plans | News/Talk/Sports 94.9 WSJM
Holtec may be in line to receive $1.5 billion to restart Palisades plant
Holtec may be in line to receive $1.5 billion to restart Palisades plant COVERT – A report from Bloomberg News that Holtec International, may be in line for a $1.5 billion loan to restart the former Palisades nuclear power plant, may be premature,
Biden to offer $1.5-billion loan to restart Michigan nuclear power plant
Biden to offer $1.5-billion loan to restart Michigan nuclear power plant The Biden administration is poised to loan US$1.5 billion to restart a closed Michigan nuclear power plant. Find out more.
The Palisades Nuclear Plant takes small steps toward decommissioning
The Palisades Nuclear Plant takes small steps toward decommissioning Holtec International is still pushing to recommission the site.
Community shows support of Palisades nuclear plant’s plan to double capacity by 2030
Community shows support of Palisades nuclear plant’s plan to double capacity by 2030 Van Buren County’s Palisades Nuclear Power Plant that shut down IN 2022 after over 50 years up in running is pending a decision from the U.S. Department of Ener
Palisades owners plan two more Michigan nuclear reactors
Palisades owners plan two more Michigan nuclear reactors | Bridge Michigan Holtec International hopes to bring the small modular reactors online by 2030, but will first need to secure permits and overcome financial challenges that have stymied efforts to commercialize the nascent technology.
Holtec signs PPA aimed at restarting Palisades nuclear plant
Holtec signs PPA aimed at restarting Palisades nuclear plant The fate of the shuttered plant still hinges on financial support from the federal government.
Report: Palisades closure poses $259 million economic loss
Report: Palisades closure poses $259 million economic loss COVERT – While Holtec International is still looking to repower Palisades Nuclear Plant, plans are progressing in Van Buren County to mitigate the economic loss from the plant’s closure in