Exelon Says It Will Close New York Nukes Without Subsidies

Exelon said in a filing with the New York PSC yesterday that it will close the Nine Mile Unit 1 and Ginna nuclear plants if the PSC does not provide certainty approving a nuclear carve-out under the "clean energy standard" (CES) by September 2016

Under a Staff proposal for the clean energy and nuclear standard, load serving entities such as ESCOs would be required to meet compliance with various targets for such energy sources.

"In order for CENG [Constellation Energy Nuclear Group] to make the investment and commitment necessary to keep Nine Mile Unit 1 and Ginna in operation, it needs the certainty provided by a Commission Order approving the CES and a signed contract procuring zero emission credits from the Nuclear Generators. CENG cannot simply roll the dice and make substantial investments on the hope that the program ultimately adopted by the Commission is sufficient to justify the substantial investments and commitments required to enable continued operation of CENG’s upstate nuclear plants. Thus, CENG will need a contract in hand by September 2016," Exelon said