PSEG to sell fossil fuel assets in pursuit of decarbonization

August 16, 2021, 6:59AMNuclear News
Hope Creek nuclear power station.

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.

N.J. Supreme Court rejects nuclear subsidy appeal

July 21, 2021, 3:00PMNuclear News
The Salem nuclear power plant. (Photo: Peretzp)

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.

PSEG quickens pace to net zero

June 29, 2021, 3:00PMNuclear News
The Hope Creek nuclear power plant

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.

Extension of subsidies for Hope Creek/Salem approved

April 28, 2021, 3:02PMNuclear News
The Hope Creek nuclear power plant. Photo: Peretzp

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.

Nuclear Power is New Jersey Power

April 25, 2021, 10:00PMNuclear NewsDylan Moon
Salem Nuclear Power Plant as photographed from Delaware Bay.

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.

PSEG pursues ZEC extensions for Hope Creek, Salem

October 6, 2020, 7:00AMNuclear News

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.

Entergy takes net-zero pledge, teams with Mitsubishi to decarbonize with hydrogen

October 2, 2020, 9:56AMNuclear News

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.

States request review of FERC’s MOPR ruling

May 1, 2020, 11:47AMNuclear News

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.