PSEG Nuclear LLC announced this week it will pursue subsequent license extensions to keep the three reactors at its Hope Creek and Salem plants operating for an additional 20 years. Both plants had been granted initial life extensions years ago by the Nuclear Regulatory Commission, Salem-1 and -2 on June 30, 2011, and Hope Creek on July 20, 2011.

The Nuclear Energy Institute—along with Constellation, Energy Harbor, PSEG, and Vistra—submitted a 19-page letter on May 24 to the Treasury Department and Internal Revenue Service, taking issue with April 10 comments to those agencies from the Clean Air Task Force (CATF) and Natural Resources Defense Council (NRDC) concerning the Inflation Reduction Act’s clean hydrogen production tax credit (Internal Revenue Code sec. 45V). (The Treasury and the IRS released a notice last November requesting public input on the credit’s implementation.)

In the latest step toward its recently stated goal of achieving net-zero carbon emissions by 2030, Newark, N.J.–based Public Service Enterprise Group, owner of the Hope Creek and Salem nuclear plants, has entered into an agreement to sell its 6,750-MW fossil generating portfolio to newly formed subsidiaries of ArcLight Energy Partners Fund VII—a fund controlled by ArcLight Capital Partners. (ArcLight Capital is a Boston-based private equity firm, founded in 2001 and focused on energy infrastructure investments.) The $1.92 billion deal, announced by PSEG on August 12, is expected to be completed late in the fourth quarter of 2021 or the first quarter of 2022.

In the latest legal action over the New Jersey Board of Public Utilities’ (BPU) April 2019 order providing subsidies to the Hope Creek and Salem nuclear plants, the state’s Supreme Court has declined to hear an appeal.

New Jersey’s Public Service Enterprise Group has announced its intention to achieve net-zero emissions by 2030, shaving two decades off its previously announced target date of 2050. PSEG is owner of the Hope Creek nuclear plant and is co-owner, with Exelon, of the Salem plant.

New Jersey’s Board of Public Utilities (BPU) yesterday voted unanimously to extend, for an additional three years, the zero emission certificate (ZEC) program benefitting the state’s two operating nuclear power plants, Hope Creek and Salem. The two facilities produce more than 90 percent of New Jersey’s carbon-free electricity and about 40 percent of its overall power.

When a nuclear power plant closes, here is what happens:

Thousands of people lose their jobs. The local economy nosedives. Air pollution increases. Reliance on natural gas, often bought from out-of-state, goes up. Electricity on the grid becomes less reliable with the loss of the most reliable source of power. And electric prices can even rise.

New Jersey–based Public Service Enterprise Group (PSEG) has filed applications to extend zero-emission certificates (ZEC) for its Hope Creek and Salem nuclear power plants, co-located in Hancocks Bridge, N.J. Hope Creek is home to one 1,237-MWe boiling water reactor, while Salem houses two pressurized water reactors, with Unit 1 rated at 1,169-MWe and Unit 2 at 1,181-MWe.

According to an October 1 announcement from PSEG, Hope Creek and Salem deliver more than 90 percent of all of New Jersey’s carbon-free energy and are essential to the state’s ability to achieve its goal of a 100 percent carbon-free energy supply by 2050, as outlined in the state’s Energy Master Plan.

More: An addendum to PSEG’s announcement, with information and documentation in support of the ZEC applications, can be found here.

Paul Browning, Mitsubishi Power, and Paul Hinnenkamp, Entergy, sign the joint agreement on September 23. Photo: Entergy

New Orleans–based Entergy Corporation last week announced a commitment to achieve net-zero carbon emissions by 2050, joining a growing list of major energy companies to make that promise—including Dominion Energy, Duke Energy, Southern Company, Xcel Energy, and Public Service Enterprise Group. And, like those companies, Entergy says that it sees nuclear playing an important role in the realization of that goal.

The New Jersey Board of Public Utilities (NJBPU), along with the Public Service Commission of Maryland, on April 27 filed a petition with the U.S. Court of Appeals, requesting a review of an April 16 ruling by the Federal Energy Regulatory Commission that largely upheld its December 2019 order regarding PJM Interconnection’s forward-looking capacity auctions. The controversial order instructed PJM to expand its minimum offer price rule (MOPR) to include new and existing energy resources, including nuclear and renewables, that receive state subsidies. PJM operates the largest wholesale competitive electricity market in the country, covering 13 states and the District of Columbia.