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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

California ISO Sets New Implementation Date for the Market Redesign

LCG, January 26, 2006--The California Independent System Operator (California ISO) announced yesterday that it will defer the implementation date for its Market Redesign and Technology Upgrade (MRTU) program. The implementation date is being pushed back from February 1, 2007 to November 1, 2007.

Drivers of the delay include software revisions, such as those necessary to incorporate new resource adequacy rules set by the California Public Utilities Commission, and a new assessment of the effectiveness of the program's project management. The budget for the program has also been increased by approximately $30 million.

The objective of the MRTU program is to improve the electricity market structure in California to enable an efficient, competitive, robust market to evolve. The primary elements of the MRTU include the Integrated Forward Market, Full Network Model, and Locational Marginal Pricing (LMP). Implementation of the MRTU will generally create day-ahead and real-time markets similar to those currently operating in the northeastern United States. In conjunction with the market design changes, the MTRU includes a major overhaul of computer systems and infrastructure. The revised budget for the MRTU program is now $170 million.

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