Perry nuclear upgrades would add enough power for 150,000 homes, energy secretary says

NewsU.S. Energy Secretary Chris Wright, at the podium, said planned Perry nuclear plant upgrades would add enough power for about 150,000 homes, with the additional electricity expected in 2031. Pictured from left are Gregory A. Beard, director of the U.S. DOE Office of Energy Dominance Financing; Wright; Vistra CEO Jim Burke and U.S. Sen. Bernie Moreno. Molly WalshBy Molly Walsh | mwalsh@cleveland.comPERRY, Ohio — The Perry nuclear power plant would produce enough additional electricity to supply about 150,000 homes under upgrades supported by a proposed federal loan, officials said Monday. The additional power is expected in 2031.The U.S. Department of Energy announced a conditional loan commitment of up to $4.2 billion to help Vistra increase electricity production at Perry and Davis-Besse in Ohio and Beaver Valley in Pennsylvania. The loan has not been finalized.Together, the projects would add 433 megawatts of generating capacity and support plans to operate the plants for another 20 years beyond their existing licenses, according to the department.At a news conference at Perry, U.S. Energy Secretary Chris Wright said Perry alone would add more than 200 megawatts of capacity, which he estimated could supply about 150,000 homes based on average electricity use.Vistra CEO Jim Burke called the Lake County plant the company’s top priority among the three sites. Vistra acquired Perry in 2024.Crews would perform Perry’s upgrades during scheduled refueling shutdowns in 2029 and 2031, Burke said. The additional electricity production would begin in 2031. Work across the three plants would take about eight years and support more than 3,000 project-related jobs, he said.U.S. Sen. Bernie Moreno said the investment would give workers greater confidence in Perry’s future and help Ohio attract businesses that need a steady electricity supply.“These are jobs that pay six figures plus that allow people to own a home, raise a family on one income, retire with dignity, live a good American life,” Moreno said of the plant’s jobs.Federal officials said the upgrades would help lower electricity costs and keep service reliable across the 13-state region served by PJM Interconnection, which manages the regional electric grid. They did not estimate household savings or specify how much of the proposed loan would go to each plant.The proposed financing builds on Vistra’s previously announced long-term agreements with Meta, the parent company of Facebook and Instagram. Burke said Meta agreed to pay above market prices for electricity to help keep the plants operating longer and increase their production.The electricity would go into the regional grid to serve homes and businesses rather than directly to a Meta data center, Burke said. The agreements are not tied to construction of a particular data center.Meta’s payments would provide revenue to cover equipment investments, jobs and loan repayment, Burke said. The proposed federal loan would offer a slightly lower interest rate than available in the market and lock in that rate for a longer period.Vistra would be responsible for repaying the loan, Burke said.The announcement comes as growing electricity demand, including from data centers, puts pressure on the regional grid and Northeast Ohio customers face higher bills.FirstEnergy estimated that a June 2025 increase in the Illuminating Company’s default electricity supply price would raise a residential customer’s total monthly bill by $14.42, or 12.5%, based on usage of 750 kilowatt-hours.PJM also has struggled to secure enough power to meet its reliability target.Burke said keeping nuclear plants operating helps limit electricity costs because their power is inexpensive to produce once the plants are running. Without them, the grid would need to rely on more expensive sources, he said.Wright said increasing electricity production would help lower prices and attract manufacturing investment.At Perry, crews would replace and refurbish equipment to allow the existing plant to produce more electricity without taking up more land, Burke said. The work would be coordinated with refueling shutdowns to limit interruptions to electricity production.Asked what say local governments and residents would have in the upgrades, Burke said there would be a community process and opportunities for public input through the Nuclear Regulatory Commission.He did not specify whether local approvals would be required or when residents could participate.Burke said communities surrounding the plants have supported keeping them operating because of their jobs and tax revenue.“When the plants stay open, the community benefits. It’s high quality jobs, competitive wages, skilled careers and a large tax base,” Burke said.Molly Walsh covers Lake and Geauga Counties for The Plain Dealer and Cleveland.com. Previously, she covered business, criminal justice and breaking news. Molly also worked as a reporter for the Akron Beacon...This article was produced with assistance from AI tools and reviewed by Cleveland.com staff.