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

Entergy Expands Its Nuclear Footprint into the Midwest

LCG, July 13, 2006--Entergy Corp. announced yesterday that it has reached an agreement with Consumers Energy, the principal subsidiary of CMS Energy, to purchase the 798-MW Palisades Nuclear Plant, located near South Haven, Michigan, for $380 million.

Entergy's existing nuclear plants are located in the Southeast and in the Northeast. In the Midwest, Entergy currently operates the Cooper Nuclear Station, owned by Nebraska Public Power District and located in Brownville, Nebraska. Entergy also stated yesterday that it wants to expand its fleet of nuclear power plants in the Midwest and plans to consider buying Wisconsin Energy Corp.'s 1,012-MW, Point Beach Nuclear Power Plant, which is located north of Milwaukee, Wisconsin.

The purchase price for the Palisades Nuclear Plant includes $242 million for the plant itself, $83 million for nuclear fuel, and $55 million in related assets. Other elements of the agreement include: (a) Entergy selling 100 percent of the output from the plant (up to its current capacity) to Consumers Energy for 15 years; (b) Entergy assuming responsibility for future plant decommissioning, with Consumers Energy retaining $200 million of the current $566 million Palisades decommissioning funds balance and the later return of $116 million more pending a favorable federal tax ruling; and (c) Consumers Energy paying Entergy $30 million to take over responsibility for the spent fuel at the decommissioned Big Rock Point nuclear plant in Michigan.

Palisades will be the third nuclear plant owned by Entergy that utilizes the Combustion Engineering pressurized water reactor design. An application for a 20-year extension of the operating license was previously submitted, and Entergy anticipates approval early next year. The existing operating license expires in 2011.
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