Lilco contemplates life without Shoreham

The fate of Long Island Lighting Co.'s (Lilco) Shoreham nuclear power plant is discussed. The delays and overruns that beset Shoreham are briefly reviewed, chief among them being the impossibility of evacuating the area in case of an accident. The terms of a settlement under which Shoreham would be dismantled are examined. The more contentious items are the rate increases provided for Lilco in the agreement and a $2.5-billion tax write-off on the plant, which to date has cost $5.3 billion, including accrued interest. Plans for Lilco to get the additional generating capacity it needs and the associated problems are addressed, and the alternatives for decommissioning Shoreham are considered.<
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