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NRC Issues Early Site Permit to Tennessee Valley Authority for SMRs at Clinch River Site

LCG, December 27, 2019--The Nuclear Regulatory Commission (NRC) announced on December 17 that the Commission has authorized the issuance of an Early Site Permit (ESP) for Tennessee Valley Authority's (TVA's) Clinch River site near Oak Ridge, Tennessee. The ESP closes several site-related issues, including many environmental impacts, for small modular reactors (SMRs) at the site. The ESP is the first issued by the NRC for SMRs and will be valid for up to 20 years from date of issuance.

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NRC Issues Subsequent License Renewals for First Time to Nuclear Reactors in Florida

LCG, December 11, 2019--The Nuclear Regulatory Commission (NRC) staff recently approved Florida Power & Light's (FPL's) application for an additional 20 years of operation for Turkey Point Nuclear Generating Units 3 and 4. This is the first time the NRC has issued renewed licenses authorizing reactor operation from 60 to 80 years. The subsequent (or second) license renewals (SLRs) for Turkey Point Unit 3 and Unit 4 now expire on July 19, 2052 and April 10, 2053, respectively.

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Industry News

SEC Approves Northern States-New Century Combo

LCG, Aug. 18, 2000--The U.S. Securities and Exchange Commission yesterday placed its imprimatur on the merger of Northern States Power Co. and New Century Energies of Denver, Colo., bringing to near-completion yet another combination of major energy utilities.

The SEC approval leaves only paperwork to be done before closing the transaction, which will create a new company named Xcel Energy Inc. Xcel will be headquartered in Minneapolis, Minn., but New Century, the former Public Service Co. of Colorado, will continue to have offices in Denver.

Xcel will be a holding company, serving through operating subsidiaries more than 3 million electricity customers and 1.5 natural gas customers in 12 states. A subsidiary of New Century will add about 2 million customers in the United Kingdom.

Wayne Brunetti, chairman and chief executive of New Century, will be president and chief executive of the new company and has already moved to Minneapolis from Denver. Jim Howard, Northern States chairman, president and chief executive, will be chairman of Xcel for a year before retiring, at which time Brunetti will assume that role as well.

Under terms of the transaction, Northern States stock will become Xcel stock, share-for-share, with no exchange of stock necessary. New Century shareholders will receive 1.55 shares of Xcel stock for each share of New Century they own.

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