NextEra Energy Completes Purchase from Southern Company of Ownership Interests in Two Florida Power Plants

LCG, December 5, 2018--NextEra Energy announced yesterday that it completed the acquisition of Southern Company's indirect ownership interests in the Stanton and Oleander natural gas power plants in Florida. The acquisition was previously announced in May of this year.

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Emera to Sell Three Combined-Cycle Power Plants in New England

LCG, November 29, 2018 --Emera Inc., headquartered in Halifax, Nova Scotia, announced this week that it has agreed to sell three natural gas-fired electric generating facilities that it owns in New England to the investment firm Carlyle Group for $590 million. The combined electric generating capacity of the three facilities is approximately 1,100 MW. The acquisition is expected to close in first quarter 2019.

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Industry News

Duke Energy Carolinas Files IRP

LCG, September 6, 2018--Duke Energy Carolinas excluded new nuclear construction in its recently filed Integrated Resource Plan (IRP), which includes its 15-year plan for new power generation.

For many years, expansion of nuclear generation has been a normal part of Duke's solution to meeting long-term electric supply needs. However, new nuclear reactors are not part of the new IRP. However, new nuclear projects remain a possibility for the future. Duke continues to monitor developments in advanced nuclear reactors and small modular reactors (SMRs).

Duke does plan to pursue receiving license extensions for its existing nuclear assets, which total 7,400 MW of capacity. The Nuclear Regulatory Commission (NRC) has historically issued 40-year licenses for the initial reactor operating period, with 20-year extensions available to units that qualify. All of Duke's nuclear units have received the first, 20-year extensions, which allow for a 60-year life. The next step a number of companies, including Duke, are considering with the NRC is to extend the licenses for another 20 years, or a total of 80 years. If the existing carbon-free nuclear plants can receive an additional 20 years of operations, then there will be significant benefits with respect to limiting carbon emissions.
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