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

AEP Revises Settlement and Agrees to Retire Three Coal-fired Units

LCG, February 26, 2013--A revised settlement agreement between American Electric Power Company (AEP), the U.S. Environmental Protection Agency (EPA), and a coalition of environmental and citizen groups was announced yesterday that will retire three of AEP's coal-fired, electric generating units.

The revised settlement includes the closure of AEP's Tanners Creek Generating Station Unit 4 in Indiana, the Muskingum River Power Plant Unit 5 in Ohio, and the Big Sandy Power Plant Unit 2 in Kentucky, which have a combined generating capacity of 2,011 MW.

Other terms of the revised settlement include AEP paying a total of $6 million to Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont, plus $2.5 million to citizen groups in Indiana. AEP must also develop 50 MW of wind or solar generating capacity in 2013, plus 150 MW in Indiana or Michigan by 2015.

The revised settlement allows AEP to install a lower cost, sulfur dioxide emission control system at the Rockport coal plant in southern Indiana.

AEP, like other owners of coal-fired power plants, continues to evaluate costly compliance options in response to growing federal regulations, such as the utility mercury and air toxics standards (MATS), driven by the EPA. Uncertainty on near-term emission control project costs, plus future incremental costs to comply with new regulations that may arise, makes it increasingly attractive to retire older coal-fired plants and to invest in new plants fueled with low-cost natural gas.
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