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Regulators reviewing Millstone’s secret financials

BY Matt Pilon

12/7/2017
The owner of the Millstone Station nuclear plant in Waterford has submitted confidential financial data to state regulators reviewing the financial viability of the plant, according to records.

Dominion sent the information on Nov. 30, along with a motion for a protective order that would prevent public disclosure.

Millstone previously balked at publicly submitting its financials to the Public Utilities Regulatory Authority and the Department of Energy and Environmental Protection -- which have been ordered by Gov. Dannel Malloy to assess the viability of the state's largest baseload power generator.

Dominion, which lobbied the legislature this year to let it bid into state-led electricity purchasing competitions, says its financials are trade secrets and disclosing them publicly could put it at a competitive disadvantage. Opponents of allowing the nuclear plant to bid into state-led procurements, which have typically been reserved for solar, wind and other green technologies, have contended that Millstone is profitable and that the state shouldn't give it any advantages without seeing its books.

Lawmakers in late October passed legislation that permits, but doesn't require, DEEP to allow Millstone to bid a substantial amount of its generation.

When signing that legislation, Malloy urged Dominion to share its financials.

The Day (paywall) reported Wednesday that neither DEEP nor Dominion would divulge additional details about what Dominion had submitted. The agencies plan to release a draft report next week, according to The Day.