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

New England ISO's Market Design Approved by FERC

LCG, Sep. 30, 2002--ISO New England's market design proposal, reflecting elements similar to those in the market run by PJM Interconnection, the mid-Atlantic grid operator, was largely approved by the Federal Energy Regulatory Commission last week.

The most important features of the proposal include "designated congestion areas," where known supply problems exist; a transition to locational marginal pricing within 18 months, in order to reflect the spatial variation in supply and demand; a system to auction financial transmission rights, by which owners of rights can earn revenue; and a demand management program to pay customers to reduce demand. The one area over which dissent was expressed was the level of installed capacity payments, which Commissioner Nora Brownell thought insufficient to draw long-term investment.

Although ISO New England and the New York Independent System Operator have discussed a merger between their market operations, some New England states have resisted, fearing that power supply would flow to New York. FERC commented that although upcoming market rules it will finalize in 2004 could lead to necessary changes in market rules, the current proposal "benefits customers by accepting improvements to New England's markets, including a day-ahead and real-time market, locational marginal pricing, mechanisms to mitigate market power, demand response programs, and a capacity resource mechanism."
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