Three more nuclear power plants operated by Exelon Generation are at risk of early closure, parent company Exelon Corp. said Friday in a filing with the U.S. Securities and Exchange Commission.
“Generation’s Dresden, Byron, and Braidwood nuclear plants in Illinois are also showing increased signs of economic distress, which could lead to an early retirement, in a market that does not currently compensate them for their unique contribution to grid resiliency and their ability to produce large amounts of energy without carbon and air pollution,” according to Exelon’s latest 10-K report.
The Dresden Generating Station near the city of Morris operates two boiling-water reactors; their Nuclear Regulatory Commission licenses expire in December 2029 and January 2031. The Byron Generating Station near Byron features two pressurized-water reactors; their NRC licenses expire in October 2024 and November 2026. The Braidwood Generating Station near Braceville operates two pressurized-water reactors; their NRC licenses expire in October 2026 and December 2027.
These would be the latest in a series of nuclear plants operated by Exelon and other power providers to shut down in recent years before their licenses expire. The Chicago-based company in September retired its Oyster Creek Generating Station, which it aims to sell this year to Holtec International for decommissioning. The Three Mile Island plant in Pennsylvania is scheduled for closure by Sept. 30, 2019.
In Exelon’s quarterly earnings call Friday, President and CEO Chris Crane noted that the Dresden plant in full, and the other two facilities in part, did not clear the 2018 PJM Interconnection capacity auction. PJM provides transmission in Illinois and other states for wholesale electricity.
Exelon in recent years has successfully pressed state governments to enact zero-emission credits to other facilities in Illinois and New York. “We will continue to engage with stakeholders on state policies while advocating broader market reforms at the Federal level,” Crane said.
Exelon Corp. reported $152 million in net income, or $0.16 per share, on a generally accepted accounting principles (GAAP) basis for the fourth quarter of 2018. However, Exelon Generation reported a $178 million loss.
