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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

NRG Announces Plans for New Nuclear Reactors in Texas

LCG, June 22, 2006--NRG Energy, Inc. (NRG) announced yesterday plans to develop approximately 10,500 MW of new electric generating capacity in the United States, including 2,700 MW of new nuclear capacity. The plan would be implemented over the next ten years and would require a total estimated investment of $16 billion.

The plan calls for the construction of two nuclear reactors at the existing South Texas Project (STP) nuclear facility. NRG filed a letter of intent with the Nuclear Regulatory Commission on June 19 to add 2,700 MW of nuclear generating capacity. NRG's estimated construction cost for Units 3 and 4 is $5.2 billion, and operations for the two units are scheduled to commence in 2014 and 1015.

NRG's nuclear plans are based upon General Electric Company's Advanced Boiling Water Reactor (ABWR) nuclear power plant technology, which has been licensed in the United States, Japan and Taiwan. NRG stated that it intends to work with GE and Hitachi,(which has been involved in developing and constructing four ABWR plants in operation in Japan) to construct the nuclear power plants.

NRG's overall development plan calls for nearly 8,000 MW of new baseload capacity and 2,500 MW of new, highly efficient intermediate and peaking capacity. The new baseload capacity includes three coal-fired plants in the Northeast that will employ an advanced, Integrated Gasification Combined Cycle (IGCC) design. One of NRG's underlying strategies embedded in its plan is to add capacity adjacent to existing generating units to leverage existing infrastructure and generally minimize both incremental environmental impacts and costs.

NRG stated that the investments in new capacity will be underpinned by long term off-take contracts and hedges that support non-recourse project financing, together with third party equity partners and the Company's existing cash flows.

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