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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

Power Suppliers Drop Out of New Jersey Market

LCG, Feb. 15, 2001Energy America, a power marketer owned by British utility Centrica Plc, and Power Direct, a supplier owned by AES Corp., are the latest in a string of more than a dozen alternative electricity suppliers to quit doing business in New Jersey.

One of the first to have second thoughts about the Garden State was KeySpan Energy, which stopped taking new residential customers last spring. "We have about 7,000 customers, with about 5,000 of them residential. Unless regulators change the market into a level playing field, we will not renew our contracts, most of which expire in September," said Bill Kinneary, the company's president.

Kinneary said one problem is the one-time discount a marketer can offer a residential customer. Called a "shopping credit," the discount was pegged to the cost of power production at the time New Jersey's deregulation plan was formulated in 1997.

"Because fuel costs are higher now than when the price was first fixed, unless they modify theprogram, we can't compete. By summer, no one will be left standing," Kinneary said.

Blossom Peretz, the state ratepayer advocate, conceded that the shopping credits pose a problem, but she is confident that it can be resolved. "I never expected it to be an energy revolution, but more of an evolution in people's understanding. It is more complex for people to think about than buying pair of shoes, or a quart of milk," she said.

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