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PG&E Announces Proposal to Close Diablo Canyon Nuclear Power Plant by 2025

LCG, June 22, 2016--PG&E yesterday announced a Joint Proposal with labor and environmental organizations that would increase investment in energy efficiency, renewables and storage beyond current state mandates while phasing out PG&E's production of nuclear power in California by 2025. The Joint Proposal would replace power produced by two nuclear reactors at the Diablo Canyon Power Plant with energy efficiency, renewables and energy storage. The Joint Proposal includes a PG&E voluntary commitment to a 55 percent renewable energy target in 2031.

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Exelon Announces Early Retirement of Nearly 3,000 MW of Carbon-Free Nuclear Capacity

LCG, June 3, 2016--Exelon Corporation yesterday announced that it will close two nuclear plants in Illinois, given the lack of progress on Illinois energy legislation. The Clinton Power Station in Clinton will close on June 1, 2017, and the Quad Cities Generating Station in Cordova will close on June 1, 2018. The two plants have lost a combined $800 million in the past seven years, despite being two of Exelon's best-performing plants.

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Industry News

Cost Estimate Up for Duke's New Nuclear Power Station

LCG, November 5, 2008--Duke Energy Carolinas informed the North Carolina Utilities Commission that the estimated cost to build the proposed William States Lee, III Nuclear Station in South Carolina has risen to $11 billion, or approximately double the original estimate, excluding financing. The new power plant is scheduled to be operational in 2018 in order to meet Duke Energy Carolina's forecast growth in electric demands.

Duke proposes to install two 1,117-MW reactors and to use Westinghouse Electric's AP1000 design, which incorporates passive safety features. The Nuclear Regulatory Commission (NRC) approved the Design Certification on December 30, 2005.

Last February Duke received notification from the NRC that the combined construction and operating license (COL) application for Lee Nuclear Station submitted December 2007 was accepted and docketed.

Duke's COL application relies upon the COL application to build two nuclear reactors at TVA's Bellefonte site in northern Alabama that was submitted October 31, 2007 to the NRC by the Tennessee Valley Authority (TVA) and NuStart Energy, a consortium of nuclear energy companies that includes Duke.

Other companies that have announced the selection of the AP1000 design as the basis for additional COL applications to construct reactors include Progress Energy, Southern Company, SCANA and Santee Cooper.

Duke's proposal is relatively unique for the United States in that Duke plans to build the reactors at a greenfield site, rather than to add capacity at an existing nuclear power station. The greenfield site is located in Cherokee County, South Carolina.
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