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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

PSEG Announces Plans to Invest in Offshore Wind

LCG, October 31, 2019--Ørsted and Public Service Enterprise Group (PSEG) announced Tuesday plans to enter into exclusive negotiations for PSEG to potentially become an equity investor in one of Ørsted's offshore wind projects and acquire 25 percent of the Ocean Wind project.

The Ocean Wind project is a 1,100 MW offshore wind project that is located 15 miles off the coast of Atlantic City. New Jersey Board of Public Utilities (NJBPU) announced in June that it had selected Ocean Wind for the State's first offshore wind project. Subject to permitting and final investment decision, Ocean Wind is expected to be commissioned in 2024.

The President and Chief Operating Officer of PSEG Power stated, "We are pleased about the opportunity to explore a partnership with Ørsted, a world leader in offshore wind development, and help New Jersey achieve its goal of carbon free generation by 2050."

The New Jersey Governor has set a goal to install 3,500 MW of offshore wind capacity by 2030. The Governor has also signed an executive order directing the development of an updated Energy Master Plan (EMP) for the State to achieve a goal of 100 percent "clean energy" by 2050. The New Jersey Renewable Energy Standard includes a goal of 50 percent renewable energy by 2030.

Ørsted operates the Block Island Wind Farm, America's first offshore wind farm, and has been awarded over 2,900 MW of capacity through six projects.

Last week, the Governor of New York announced that the New York State Energy Research and Development Authority (NYSERDA) had finalized contracts with Sunrise Wind LLC, a joint venture of Ørsted and Eversource Energy, for its 880 MW Sunrise Wind Project and Equinor Wind US LLC for its 816 MW Empire Wind Project to deliver renewable energy to New York. The State of New York's requirements include the development of 9,000 MW of offshore wind by 2035.

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