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.

For any nuclear power plant that has been permanently shut down, site restoration is the ultimate decommissioning goal when contracting with a utility to demolish a facility. The task, however, is not as simple as mobilizing heavy equipment and waving a wrecking ball or planting explosives to implode the facility, then loading up the debris and sending it to a landfill.

There is a real science and engineering approach necessary to safely restore the land to its original state. That has been the goal for EnergySolutions over the past decade as the company works to safely decommission shuttered nuclear power plants—packaging, transporting, and disposing of the waste, and restoring the sites for whatever reuse the owners and host communities see fit.

The Nuclear Regulatory Commission has extended its orders transferring the licenses for the La Crosse and Zion nuclear power plants from EnergySolutions back to the plant owners until late 2022. This is the third time the NRC has extended the effectiveness of the license transfer orders for the decommissioned plants since approving them in 2019.

When on May 7, 2013, the Kewaunee nuclear power plant in rural Wisconsin was shut down, it took with it more than 600 full-time jobs and more than $70 million in lost wages, not including temporary employment from refueling and maintenance outages. Taking into account indirect business-to-business activity, the total economic impact of the closure of the single-unit pressurized water reactor was estimated to be more than $630 million to the surrounding three-county area.

Indian Point nuclear power plant. Photo: Entergy Nuclear

Communities across the United States where nuclear power plants have been shut down face huge gaps in tax revenues, sometimes in the tens of millions of dollars. States such as New Jersey, Illinois, Wisconsin, and California are watching events in New York now that Gov. Andrew Cuomo has signed a new law that says cities can “assess the economic value of storing waste” on sites where nuclear plants once operated, as reported by Bloomberg.