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

Halliburton’s COO Named as El Paso Corporation’s New CEO

LCG, July 17, 2003Pipeline giant El Paso Corporation named Douglas Foshee as its new chief executive and president on Wednesday.

Foshee, at age 44, has been at Halliburton since 2001. He began as chief financial officer and was later named COO. Prior to his position at Halliburton he ran oil and gas company Nuevo Energy Co., as well as serving in several positions at ARCO.

El Pasos current director and CEO, Ronald Kuehn, will stay employed as non-executive chairman.

El Paso has faced much scrutiny over the recent years, both legally and from dissident shareholders. The corporation has already started restructuring, emphasizing its natural gas pipeline assets and foregoing several other avenues of investment.

Foshee has successfully lead restructuring efforts in the past and will be responsible for restoring shareholder confidence when he takes up the job in September at a salary of $900,000 per year.

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