Mr. Brennan thinks that New York can get by without the electricity generated by Indian Point and that the city will not be putting itself at a financial disadvantage. Other cities actually make their own electricity, and do so at lower costs than some commercial suppliers, he noted at the hearing. Asked by a city official if he thought that the city should get into that business, Mr. Brennan paused for a minute. “Yes,” he said.
Certainly, the cost of making electricity has declined drastically in the last few years, in large part because the price of natural gas has been dropping. The decrease in price has made electricity from natural gas competitive with nuclear power. In 2008, the price of natural gas was $12 or $13 for a quantity known as a decatherm.
“Right now, it is $3 for a decatherm,” said Joseph P. Oates, a vice president at Con Edison.
