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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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New York Poised to Close Last Coal-fire Power Plant

LCG, December 4, 2019--The last operating coal-fired power plant in New York is moving toward closure shortly. Last month, Somerset Operating Company, a subsidiary of Riesling Power LLC, submitted a request to the New York State Public Service Commission (NYSPSC) to waive the state's required, 180-day notice to close the Somerset Station, allowing the facility to be retired on February 15, 2020. Closure is contingent on approvals by both NYSPSC and the New York Independent System Operator (NYISO), which will evaluate if it will cause an adverse effect on grid reliability.

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Industry News

PowerGen Takes Over Dominion Resources Plant

LCG, Sept. 29, 2000Big British utility PowerGen Plc yesterday completed its purchase of the 350 megawatt, natural gas-fired Corby Power Station north of London. The seller of 80 percent of the facility was Dominion Resources Inc. of the U.S. Financial details were not disclosed.

In June, Dominion Resources announced that it would sell its interest in Corby Power Ltd., owner of the plant, for about $80 million. Corby Power was to retain project debt of about $220 million. If those figures applied to PowerGen's purchase, the total value of the deal would be around $300 million.

Thomas E. Capps, chief executive of Dominion Resources, said "Corby has been an efficient, profitable and well-run facility. We're pleased to be handing the keys to one of Europe's most experienced generators. We wish PowerGen and our former partner, Electricity Supply BoardInternational, continued success."

Dominion Resources said the sale advances its strategy to divest its non-core assets and focus growth on energy markets in the Midwest, Northeast and Mid-Atlantic regions of the United States.

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