A study conducted by the Nuclear Energy Institute has found that the Cooper Nuclear Station, located in the southeast corner of Nebraska, generates $112 million per year in economic benefits to the region.
The power plant "quietly churns out electricity 24 hours a day, 365 days a year, generating low-cost, reliable, non-carbon emitting electricity for customers of Nebraska Public Power District (NPPD)," said the utility that owns the plant.
"Just as powerful as the 820 megawatts of electricity the plant produces … (is) … its role as an economic engine for southeast Nebraska and the state," the NPPD announced last week.
“We know Cooper Nuclear Station provides around-the-clock power our customers expect,” said Chief Executive Officer and President Pat Pope. “But it’s important the public know the economic benefit and jobs it contributes to this part of the state.”
The NEI analysis found that Cooper annually generates more than $66 million in economic output for the five Nebraska counties surrounding the plant, and more than $46 million for the rest of the state. Besides the tens of millions benefiting Cass, Johnson, Nemaha, Otoe and Richardson counties, the study estimates a $63 million increase in gross state product and $70 million in disposable personal income.
Cooper also benefits the remainder of the state with an estimated $46 million in economic output from plant operations, $26 million in gross state product, and $32 million in disposable personal income.
The study also found that between 2018 and 2034 (which is the current license expiration date); Cooper’s operations will generate more than $1.9 billion in economic output for Nebraska, including $1.2 billion to those five counties and an additional $675 million in the rest of Nebraska.
Cooper employs 680 individuals, 550 of whom live in Nebraska. The combined annual payroll, including benefits, amount to $76 million for permanent employees and contractors. Those jobs stimulate over 450 additional jobs in the area and Nebraska, according to the study.
While plants across the country are struggling to maintain profitability in an era of pricing declines brought on by a market glut in natural gas, there are still economic advantages to nuclear power, the study found.
Cooper has operated at more than 93 percent of its capacity over the past five years, churning out low-carbon electricity on the while. It's production percentage is "on par with the industry average and significantly higher than other forms of generation," the company pointed out.
At capacity, CNS could provide power to over 385,000 Nebraskans, and in 2017, Cooper set a generation record of more than 6.9 million megawatt hours of electricity.
Last fall, a Plant Neighbor Survey determined there is strong local support for Cooper from local residents, as well. Of those surveyed, 92 percent of Cooper’s neighbors have a favorable impression of the plant and its operations, and 94 percent were confidant in NPPD’s ability to operate a nuclear power plant safely.