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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

CA ISO Will Receive FERC Monitors

LCG, Sep. 30, 2002--The Federal Energy Regulatory Commission (FERC), after allowing for a month's delay of an increase of the wholesale price cap in California, will oversee the California Independent System Operator with two senior on-site officials.

The price cap had been scheduled to increase tomorrow from $250 per megawatt-hour from the current $91.87 per MWh, but will instead be changed on Oct. 30, following testing of a computer program meant to detect possible attempts at market manipulation. The officials from FERC, characterized as "two senior market oversight people," are likely to represent a measure to be duplicated "everywhere," according to the FERC Chairman, Pat Wood. He dismissed the suggestion that the officials are being sent in connection with the FERC's order that the current CA-ISO board be dissolved.

While the state's governor, Gray Davis, has criticized the lifting of the California cap to a higher level as giving an opening to generators to profit unreasonably, in his view, Wood pointed out that California's cap is below similar caps in other parts of the country, and would represent a step to encourage new supply in the state.

During remarks at a regional business forum in Los Angeles, Wood said that last week's finding by a FERC administrative judge that subsidiaries of El Paso Corp. had withheld large amounts of natural gas from California could result in in "disgorgement of profits," or a withdrawal of the company's right to trade. He and other commissioners will likely examine the substance of the ruling within the next two months.
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