The company that owns three nuclear power plants in New Jersey announced Wednesday that it will seek federal approval to operate them for another 20 years.
The move comes as New Jersey continues to push hard to become an East Coast leader in offshore wind power. But three power plants operated by PSEG Nuclear LLC provide nearly half of New Jersey’s electricity, and the permit extension is a potential hedge against not having enough wind projects available to meet the state’s needs. Become a means.
If extended, the power plant will be able to operate beyond 2050.
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The company announced that it has notified the U.S. Nuclear Regulatory Commission of its intention to seek renewal permits for Units 1 and 2 of the Salem Generating Station and the Hope Creek Generating Station. All of this is on his one spot on a man-made island in Lower Alloways Creek Township, Salem County.
The extension request is scheduled to be submitted in the second quarter of 2027, but the committee needed to be notified well in advance to be ready for review. If approved by the NRC, the Salem Units 1 and 2 licenses would be extended from 2036 and 2040 to 2056 and 2060, respectively, and the Hope Creek Power Plant license would be extended from its current 2046 expiration date, the company said. It will be extended until 2066.
FILE – In this Nov. 13, 2007 file photo, a tractor and trailer stand near an outbuilding on a small farm not far from the cooling towers of the Salem Nuclear Power Plant operated by Public Service Enterprise Group Inc. on Lower Alloways Creek. sitting in TOWNSHIP, NJ On Wednesday, April 3, 2024, PSEG Nuclear announced that it will ask federal regulators to extend the licenses of its three nuclear power plants for an additional 20 years. (AP Photo/Mel Evans, File)
“For more than 50 years, nuclear power plants in South Jersey have safely produced reliable, always-on, carbon-free energy,” PSEG Nuclear President and Chief Nuclear Officer Charles McPheeters said in a statement. I have done so,” he said. “Pursuing license renewal demonstrates our determination to continue to contribute to New Jersey’s clean energy future and continue to serve as an important economic engine for our local communities.”
Starting this year, the Nuclear Production Tax Credit included in the federal Inflation Reduction Act will provide nine years of financial support to nuclear power plants through 2032.
Additionally, in 2019, New Jersey officials announced that the state’s nuclear industry would receive $300 million in customer-funded funding for the state’s nuclear industry, despite the Utility Commission’s finding that the state’s nuclear industry was “viable” and did not need subsidies. It also approved a dollar subsidy.
Both incentives were designed, in part, to support clean energy sources that replace the burning of fossil fuels, which contribute to climate change.
The company’s move to extend its operating license received bipartisan support from New Jersey lawmakers Wednesday.
“Nuclear power is a clean resource that brings reliability and diversity to our state’s energy supply,” said Democratic state Sen. John Bruzicelli.
Republican Sen. Michael Testa added, “South Jersey’s nuclear power plants consistently, reliably and affordably power our state day and night, regardless of the weather.” Ta.
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PSEG Nuclear is a subsidiary of Public Service Enterprise Group, based in Newark, New Jersey.
