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Report Says More Nuclear Plants in Financial Trouble

May 15, 2018

A report from Bloomberg New Energy Finance (BNEF) says the financial struggles of U.S. nuclear power plants continue to increase, and it is likely more plants will be faced with early retirement. It’s another acknowledgement of the tough operating environment for nuclear facilities as gas-fired and renewable energy sources continue to grab more power generation market share in an era of lower electricity costs and slowing demand for electricity.

Nicholas Steckler, an analyst with BNEF, on May 15 said 24 of the more than 60 U.S. operating nuclear power plants are either set to close or will not be able to cover their operating costs through 2021. Steckler wrote in his report that those sites have total generation capacity of 32.5 MW, which is nearly a third of the nation’s total nuclear nameplate generation capacity of just above 100 MW, according to the U.S. Energy Information Administration.

A 2016 POWER magazine report detailed the nuclear retirement picture at that time, and several more units have announced plans for premature closures over the past several months.…

Under Competitive Pressure, Nuclear Industry Doing All It Can, NEI Head Says

April 15, 2018

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The nation’s paramount nuclear power trade group has launched a wide-ranging strategy to help generators stay profitable in tight markets, the head of the Nuclear Energy Institute (NEI) told Wall Street analysts on April 12.

In an address broadcast on Facebook, Maria Korsnick, NEI president and CEO, said that nuclear plants that operate in competitive wholesale markets “are obviously under significant economic stress.” Six reactors have retired over the last five years, and plant owners have announced intentions to shutter another 12 in the coming years. “If nothing is done to save those plants, the impacts will be devastating,” she said, pointing to job losses and resiliency worries.

“We didn’t have to stress these virtues 10 years ago, but in today’s market we do,” she said. The nation’s fleet of 99 reactors produces no air emissions, which is important especially in places where downwind air quality is already bad. A unit can operate for months or years after a refueling, making it immune to problems with pipelines, barges, and railroads that sometimes afflict fossil fuel generators, Korsnick noted.…

Minnesota May Be Next to Support Nuclear Plants

April 1, 2018

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Following the lead of Illinois and New York, which have enacted policies supporting nuclear power plants, the Minnesota Legislature is weighing a bill that could help the owner of two nuclear facilities within its borders.

Minnesota is home to the single-unit 671-MW Monticello nuclear plant and the dual-unit 1,100-MW Prairie Island plant (Figure 1). Xcel Energy owns a 100% stake in both of them.

1. Home on the prairie. The Prairie Island Nuclear Generating Station generates about 20% of the electricity used by Xcel Energy’s customers in the Upper Midwest. Unit 1 began operation in December 1973 and Unit 2 followed in December 1974. The reactors are licensed until 2033 and 2034, respectively. Courtesy: Nuclear Management Co.

Current Minnesota regulations require investor-owned utilities, such as Xcel, to file multi-year integrated resource plans (IRPs) with the Minnesota Public Utilities Commission (MPUC). Companies give details about their future generation mix in the IRPs. Once the MPUC approves the plan, the utility decides how much money to allocate toward capital, and operations and maintenance expenses at each of its generation facilities.…

Trump Budget Backs Nuclear, Coal; Cuts Funding for Renewables

February 13, 2018

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The Trump administration’s fiscal year 2019 budget request released February 12 asks for more money to support fossil fuel-based power systems, but seeks funding below current levels for other energy initiatives, including renewable energy and energy efficiency.

The energy funding is part of a $ 4.4 trillion budget that features large increases in military spending, along with deep cuts to several domestic programs and entitlements, including Medicare, Medicaid, food stamps, and Social Security disability payments. Analysts immediately said it has little chance of being enacted by Congress as written, in part because of fears of what the proposal would add to the federal deficit over the next decade. A New York Times analysis said the proposed budget would add $ 984 billion to the federal deficit next year, and add about $ 7 trillion to the federal deficit over the next 10 years.

The proposal, Trump’s second since taking office in January 2017, is similar in many ways to his administration’s proposed 2018 fiscal year budget, which was rejected by Congress.…

Nuclear Power, Carbon Capture Winners in New Budget Deal

February 11, 2018

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The budget bill passed by Congress and signed by President Trump in the early hours of February 9 extends a host of tax credits for energy technologies, including provisions to help the Vogtle nuclear expansion in Georgia as well as U.S. carbon-capture projects.

The legislation also provides support for renewable energy, including for small wind turbines and geothermal pumps. It also gave five-year tax credit extensions to small natural gas technologies, including combined heat-and-power (CHP) and microturbines, along with fuel cells.

The Senate version of the bill reportedly included proposals to boost offshore wind energy, energy storage, waste heat to power, and large-scale geothermal generation projects. None of those efforts survived in the House and are not included in the final legislation.

The bill also includes $ 2 billion to help with rebuilding the electricity grid in Puerto Rico, where about 30% of the island remains without power after hurricanes Irma and Maria battered the Caribbean last September. Those funds are part of $ 89 billion in disaster funding for U.S.…

Exelon Will Close Oyster Creek Nuclear Plant Earlier than Anticipated

February 3, 2018

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Exelon Generation will shutter its Oyster Creek Generating Station in October 2018—more than a year before it is required to close the single-unit reactor as part of an agreement with the state of New Jersey.

Exelon agreed in 2010 to close the unit by December 2019—10 years before its license to operate expires—after it decided against installing a cooling tower technology required by the New Jersey Department of Environmental Protection. On February 2, the company said it would permanently close the unit at the end of its current operating cycle in October. The revised schedule will allow Exelon to better manage resources in a market environment where fuel and maintenance costs are rising amid historically low power prices, it said.

Bryan Hanson, Exelon president and chief nuclear officer, noted in a press release that the company will offer a position to every employee at Oyster Creek that chose to stay with the company, and that the revised schedule would give the company time to do that.…