The Kewaunee Nuclear Power Plant will stop making electricity in May. Dominion Resources, the owners of the facility, announced Monday that the plant will cease operations on May 7.
About 650 jobs at the plant are expected to be phased out over the next few years as the facility undergoes a detailed closure process. Many of those cuts could come this summer.
The closure is expected to have a major impact on the economy of the region. A recent study from the Kewaunee County Economic Development Corporation determined the plant’s employees will lose $85.5 million in annual income. The report says the Kewaunee area can also expect to lose almost $640 million a year, with all but $50 million of that total attributed directly to the plant shutting down.
Dominion announced its plans to close the facility last fall, saying it could not find a buyer for the plant because contracts with utilities were set to expire at the end of last year. The company said those utilities would not renew purchasing agreements because it’s cheaper for them to get power from plants fired by natural gas.
