New Jersey’s 3 nuclear power plants seek to extend licenses for another 20 years
The company that owns the three nuclear power plants in New Jersey said Wednesday it will seek federal approval to operate them for another 20 years.
The move comes as New Jersey makes a strong push to become the East Coast leader in offshore wind energy. But PSEG Nuclear LLC’s three power plants provide nearly half of New Jersey’s electricity, and a license renewal is a potential hedge against not having enough wind projects available to meet the state’s needs.
An expansion would allow the power stations to continue operating after 2050.
The company said it has notified the U.S. Nuclear Regulatory Commission of its intention to apply for renewal of licenses for the Salem Generating Station Units 1 and 2, and the Hope Creek Generating Station. They are all in one location on the man-made island in Lower Alloways Creek Township, Salem County.
It plans to submit the extension request in the second quarter of 2027, but had to warn the commission well in advance so it could prepare for the review. If approved by the NRC, the licenses for Salem Units 1 and 2 would be extended from 2036 and 2040 to 2056 and 2060, respectively, and the Hope Creek station would be extended from its current expiration date of 2046 to 2066, the company said.
“For more than five decades, South Jersey’s nuclear power plants have safely generated reliable, always-on carbon-free energy,” Charles McFeaters, president and chief nuclear officer of PSEG Nuclear, said in a statement. licenses signify our commitment to continue contributing to New Jersey’s clean energy future and serving as a vital economic engine for the local community.
Starting this year, a nuclear production tax credit included in the federal Inflation Reduction Act will provide nuclear generators with nine years of financial support through 2032.
And New Jersey officials also approved a $300 million customer-funded subsidy for the state’s nuclear industry in 2019, despite the Utilities Board determining the industry was “viable” and not a subsidy. needed.
Both incentives are intended in part to support clean energy sources as an alternative to burning fossil fuels, which contribute to climate change.
The company’s move to renew its operating permits received bipartisan support from New Jersey lawmakers on Wednesday.
“Nuclear energy is a clean resource that provides reliability and diversity to the state’s energy supply,” said Senator John Burzichelli, a Democrat.
“South Jersey’s nuclear power plants consistently, reliably and affordably provide power to our state, day and night, regardless of the weather,” added Senator Michael Testa, a Republican.
PSEG Nuclear is a subsidiary of Newark, New Jersey-based Public Service Enterprise Group.
___
Follow Wayne Parry on X, formerly Twitter, at www.twitter.com/WayneParryAC