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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

Dynegy Sheds Illinois Power Utility

LCG, Nov. 3, 2003--Dynegy Inc., which is hoping to regain financial strength when the energy market recovers, sold the regulated utility Illinois Power to Exelon Corp. for $2.23 billion, it announced today.

Talks concerning the deal have been in progress since September. The transaction, which relieves Dynegy of $1.8 billion of debt, will result in the company receiving a $150 million promissory note and approximately $275 million cash.

By acquiring Illinois Power, Exelon will serve an additional 650,000 natural gas and electricity customers in Illinois. It currently produces power for 3.4 million customers in northern Illinois and 1.9 million electricity and natural gas customers in the area of Philadelphia, Pennsylvania.
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