Constellation Energy has announced an agreement with Commonwealth Edison (ComEd), Illinois’s largest electric utility, to power the latter’s 54 offices and metered facilities with locally produced nuclear energy, 24/7.
Constellation Energy, owner and operator of the nation’s largest reactor fleet, will ask the Nuclear Regulatory Commission to extend the operating licenses of the Clinton and Dresden reactors by 20 years, the company announced Monday, adding that it expects to file license applications with the agency in 2024.
Constellation, formerly Exelon Generation, owner and operator of the nation’s largest nuclear reactor fleet, announced this morning the completion of its separation from Exelon Corporation and its launch as a stand-alone, publicly traded company. Headquartered in Baltimore, Md., the new company began trading today on the Nasdaq Global Select Market under the symbol “CEG.”
Exelon announced last February that it had begun the effort to separate its utility businesses from its competitive power generation and customer-facing energy businesses.
The Nuclear Regulatory Commission has approved the indirect transfer of the licenses for 23 operating and five decommissioning reactors, as well as their associated independent spent fuel storage installations, from Exelon Corporation to a new company as part of a corporate restructuring, the agency announced yesterday.
As Illinois lawmakers continue to debate energy legislation that would allow the state’s Byron and Dresden nuclear plants to continue operation beyond this year, Exelon would like to remind everyone—including those legislators, no doubt—of what is at stake.
A large group of nuclear and nuclear-friendly organizations, including the American Nuclear Society, sent a letter on May 24 to Illinois lawmakers urging them to pass the Climate Union Jobs Act (CUJA) before the legislature adjourns at the end of this month.
Among its provisions, the bill would create 74 million megawatt-hours of carbon mitigation credits for Exelon’s Braidwood, Byron, Dresden, and LaSalle nuclear plants. The Clinton and Quad Cities plants, which participate in Illinois’s zero-emission credit program, would not be eligible. (In August of last year, Exelon Generation, owner and operator of all six nuclear plants in Illinois, announced that it would close Byron and Dresden without state support of some kind, adding that Braidwood and LaSalle were also imperiled.)
A research and consulting firm hired by Illinois governor J. B. Pritzker’s administration to scrutinize the financial fitness of Exelon’s Byron and Dresden nuclear plants approves of limited state subsidies for the facilities, according to a redacted version of the firm’s report made available yesterday.
The Byron nuclear plant is scheduled to close this September. Photo: Exelon
Amid all the talk of last week’s winter storm and the resultant grid debacle in Texas, Exelon on Monday issued a press release informing customers of just how reliably its Illinois nuclear power plants have been operating this winter.
The release might also be seen as a message to state lawmakers, who have yet to produce any legislation to aid the utility’s financially challenged nuclear facilities—of which two, Byron and Dresden, have been slated for retirement later this year, given the (so-far) absence of such legislation.
Chesney
An Illinois lawmaker is hopeful that legislation is coming in the state that would benefit nuclear power plants. “I believe we’re going to have an incentive program that will be in partisan legislation,” said Andrew Chesney, Illinois state representative for the 89th District.
Chesney’s comment was included in a video story that aired on a TV news channel in Rockford, Ill. The news story focused on the negative financial impact that would result if the Byron nuclear power plant were to close in 2021.
Exelon Generation, operator of the largest nuclear reactor fleet in the United States, intends to downsize that fleet next year by retiring its Byron and Dresden plants. In an announcement released early this morning, Exelon said that the two-unit Byron, located near Byron, Ill., would be permanently closed in September 2021, followed in November by the two-unit Dresden, located in Morris, Ill.
Byron is licensed to operate for another 20 years; Dresden, a much older facility, is licensed for another decade.
Clinton Power Station, courtesy Exelon Nuclear
Yesterday, June 2, 2016, may have marked a watershed moment in the present day history of nuclear power plants in the United States, when two nuclear plants were selected by their owner for shutdown far in advance of their license expiration dates for economic reasons. The fast-moving pace of plants being shut down under similar economic circumstances (unbalanced energy markets that favor other forms of energy to the detriment of nuclear) signals a broken system that must be changed, now.