Exelon Cancels Capacity Additions in PJM Market

Exelon Corporation has decided, based on market conditions, to cancel the previously deferred extended power uprate projects at the LaSalle and Limerick nuclear stations, it said in an 8-K.

As a result of this decision, the costs for these projects currently capitalized in property, plant and equipment became impaired and therefore Exelon and Exelon Generation Company, LLC (Generation) will record in the second quarter a pre-tax charge, including early contract termination costs, to operating and maintenance expense of approximately $100 million.

Management currently expects these charges to expense will be excluded from adjusted (non-GAAP) operating earnings.