Last Connecticut Nuclear Plant Gets Novel Lifeline

Connecticut is employing a novel strategy to bail out a money-losing nuclear power plant, as concerns over global warming begin to outweigh the political risks of raising power prices.

Dominion Energy Inc.’s Millstone nuclear plant, the largest generator in the state, was designated an “at-risk” facility, the Public Utilities Regulatory Authority ruled Dec. 5. That makes it eligible for above-market power contracts that typically are available only to renewable energy. Millstone, the state’s sole operating nuclear plant, could start to benefit from more favorable pricing as soon as July.

Flat demand, cheap natural gas, and an influx of solar and ...