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$110 million deal to keep FitzPatrick nuclear facility operating, NRC approves transfer from Entergy to Exelon

NRC approves transfer of Entergy’s Fitzpatrick nuclear plant to Exelon       Utility Dive      8 Mar 17Dive Brief:

  • The U.S. Nuclear Regulatory Commission last week approved the transfer of the operating license belonging to Entergy’s FitzPatrick nuclear facility to Exelon as part of a $110 million deal to keep the plant operating.
  • The NRC’s approval is the last regulatory hurdle of the deal, Syracuse.com reports, with Exelon officials anticipating to close out the deal later this month.
  • Entergy had planned to shutter the struggling FitzPatrick plant, but Exelon agreed to purchase it with the caveat that New York developing a Clean Energy Standard subsidy program to keep it profitable. But the Zero Emissions Credit plan is now being challenged by the Electric Power Supply Association, which argues the credits intrude on federal jurisdiction of wholesale markets.
  • Dive Insight:
  • New York’s plan to save the state’s nuclear fleet is tied up at the Federal Energy Regulatory Commission. The agency has only two members, preventing any decisions on major cases until a third commissioner is seated for a quorum.

    While the deal moves ahead, federal regulators will still need to make broader decisions about how to credit the carbon-zero output from nuclear plants, which struggle against natural gas plants and renewables with lower fixed costs. While generators opposing the plan say the ZECs intrude into wholesale power markets, Exelon has argued they are within the state’s purview…..http://www.utilitydive.com/news/nrc-approves-transfer-of-entergys-fitzpatrick-nuclear-plant-to-exelon/437539/

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March 8, 2017 - Posted by | business and costs, politics, USA

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