Editor’s Note: This story has been corrected to say that Exelon owns and operates 12 nuclear power plants.
In a leadership shuffle last week Exelon Corp., Chicago, appointed leadership for a new offshoot company that would separate its power generation business — including nuclear — from its electric and gas sales and distribution businesses, the company said in a press release.
Joseph Dominguez, who currently serves as CEO of Exelon subsidiary Commonwealth Edison, will take control of the company’s new power generation spin-off named Exelon Generation, according to a press release dated Oct. 1. Daniel Eggers, Exelon’s current senior vice president for corporate finance, will take over as CFO at Exelon Generation, the press release said.
Exelon said Tuesday that the split, which it announced during a conference call with investors in February, is still on track to wrap up in the first quarter of 2022.
Once Exelon Generation is all set up, it will manage the 12 nuclear power plants currently in Exelon’s portfolio. Among those sites are the Byron and Dresden plants, the economically-troubled Illinois nuclear stations that got a $700 million bailout from the state last month.
Exelon also has a sizable spent fuel inventory. According to a 10-K document the company filed with the Securities and Exchange Commission in February, it had 87,100 spent nuclear fuel assemblies, or 21,600 tons of spent fuel, stored on site at power plants either in pools or dry casks as of Dec. 31.
As for its low-level waste disposal, Exelon ships its Class-A waste to either of the EnergySolutions disposal sites in Utah and South Carolina, according to the 10-K report. The company currently sends its Class-B and Class-C waste to the Waste Control Specialists (WCS) site in Texas, the report says, and it will do so until 2032.
