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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

Energy Bill Tax Breaks Three Times Earlier Estimate

LCG, Nov. 19, 2003--The energy bill now being debated in Washington contains an estimated $25.7 billion in tax credits or allowances that would be spread over the next 10 years, and in the view of some free-market advocates and other observers, represent highly targeted subsidies to particular sectors of the energy industry.

Approximately three-fourths of the tax inentives could be used by energy companies. Many of the tax breaks, including those for consumers, are not based on levels of energy production or savings, but on the type of technology or application involved. A senior policy analyst of the conservative think tank the Heritage Foundation, Charli Coon, was quoted in the New York Times as saying of the bill, "Congress should not be determining the energy winners and losers nor the appliance winners and losers." Coon believes that purchasing decisions should not be based on tax incentives.

Another observer who was quoted was Jerry Taylor, who directs the natural resources program of the Cato Institute, which adopts a strong libertarian stance against what it sees as excessive government influence. "If a technology has merit, there is no need to subsidize it, and if a technology does not have merit, no amount of government subisidy is going to give it merit," Taylor said.

Robert McIntyre directs Citizens for Tax Justice, which receives funding from labor groups, and asked, "What are we doing with this bill? Are we cutting prices for energy so we use more of it? ...This bill is just political payoffs to people who make contributions."

Last year, the Bush administration wrote in a letter to Congress that it was targeting about $8 billion worth of tax incentives for energy producers, roughly half of what is outlined in the current bill before considering additional tax breaks for consumers. Concerns have been raised about the possibility that some of those claiming the credits could perpetrate fraud in filing their taxes, due to the difficulty the Internal Revenue Service would have in monitoring all such claims of eligibility.
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