The company that owns Pilgrim Nuclear Power Station said Tuesday morning that it plans to close the 43-year-old plant in Plymouth.
The company said in a statement it will close the plant no later than June 2019.
“The decision to close Pilgrim was incredibly difficult because of the effect on our employees and the communities in which they work and live,” Leo Denault, Entergy’s chairman and chief executive officer, said in a statement.
Pilgrim supplies an average of about 5 percent of the region’s energy, and the 680-megawatt plant accounts for about 84 percent of the state’s non-carbon emitting energy.
However, Denault said, “market conditions and increased costs led us to reluctantly conclude that we had no option other than to shut down the plant.”
Company officials plan to hold a press conference at noon Tuesday in Plymouth.