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Duke Energy Submits Early Site Permit Application to NRC for New Nuclear Reactors in North Carolina

LCG, December 30, 2025--Duke Energy announced today its submission of an early site permit (ESP) application to the U.S. Nuclear Regulatory Commission (NRC). The site is near the Belews Creek Steam Station in Stokes County, North Carolina. The submittal follows two years of work at the site, and the announcement states that the submittal is part of Duke Energy's strategic, on-going commitment to evaluate new nuclear generation options to reliably meet the growing electricity needs of its customers while reducing costs and risks.

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The NRC Issues Summary of 2025 Successes

LCG, December 29, 2025--The Nuclear Regulatory Commission (NRC) today issued a summary of its 2025 accomplishments to highlight its commitment to "enabling the safe and secure use of civilian nuclear energy and radioactive materials through efficient and reliable licensing, oversight, and regulation to benefit society and the environment."

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Industry News

TXU to Shutdown 585 MW of Peaking Generation

LCG, January 5, 2005--TXU announced that it will stop operating nine, 65-MW, gas-fired combustion turbines installed at two TXU generating stations in Texas. The turbines are under long-term lease agreements, and TXU will explore opportunities to sublease the turbines to a third party and/or mothball the turbines. TXU expects to complete its analysis of these opportunities during the first quarter of 2005.

Five of the turbines are located at the Permian Basin Steam Electric Station in Ward County, Texas, and the other four are located at the DeCordova Steam Electric Station in Hood County, Texas.

By terminating the operations of the turbines, TXU expects to report a non-cash charge of approximately $156 million ($102 million after-tax) in the fourth quarter of 2004. Beginning in 2005, annual lease expenses for the turbines should drop by approximately $17 million ($11 million after-tax) as a result of the charge. TXU expects to continue to make normal payments under the existing leases and does not anticipate incurring any additional material cash or non-cash charges as a result of the transactions related to the combustion turbines.

Last November, TXU announced similar plans to mothball eight, gas-fired electric generating units with a combined capacity of 2,516 MW. These units are located at Valley, North Lake and Morgan Creek stations. TXU estimated the total annual savings for mothballing the eight units to be approximately $20 million.

TXU also executed an agreement on December 30, 2004 to terminate an existing power purchase and tolling agreement with ExTex LaPorte Limited Partnership that would have expired in 2006. The agreement includes a payment of $172 million and is expected to add flexibility to TXU's wholesale market activities and to reduce its overall cost of energy sold by approximately $22 million in 2005 and 2006.

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