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The company that owns New Jersey's three nuclear power plants said Wednesday it will seek federal approval to operate them for another 20 years.The move comes as <a href="https://www.foxnews.com/category/us/us-regions/northeast/new-jersey" target="_blank" rel="noopener">New Jersey</a> makes a strong push to become the East Coast leader in offshore wind. But the three power plants run by PSEG Nuclear LLC provide nearly half of New Jersey's electricity, and a licensing extension represents a potential hedge against not enough wind projects being available to meet the state's needs.An extension would enable the plants to run beyond 2050.<a href="https://www.foxnews.com/politics/biden-admin-provide-1-5b-loan-restart-michigan-nuclear-plant" target="_blank" rel="noopener">BIDEN ADMIN TO PROVIDE $1.5B LOAN TO RESTART MICHIGAN NUCLEAR PLANT</a>The company said it has notified the U.S. Nuclear Regulatory Commission of its intent to seek renewed licenses for the Salem Generating Station Units 1 and 2, and the Hope Creek Generating Station. All are located on one site on Artificial Island in Lower Alloways Creek Township, Salem County.It plans to file the extension request in the second quarter of 2027 but needed to alert the commission far in advance to allow it to prepare for the review. If approved by the NRC, the licenses for Salem Units 1 and 2 would be extended from 2036 and 2040 to 2056 and 2060, respectively, and Hope Creek station would be extended from the current 2046 expiration to 2066, the company said."For more than five decades, the nuclear generating stations in south Jersey have safely generated reliable, always-on carbon-free energy," Charles McFeaters, president and chief nuclear officer of PSEG Nuclear, said in a statement. "Seeking to renew our licenses signifies our commitment to continuing to contribute to New Jersey’s clean energy future and serving as a vital economic engine for the local community."Beginning this year, a nuclear production tax credit included in the federal <a href="https://www.foxnews.com/category/us/economy/inflation" target="_blank" rel="noopener">Inflation Reduction Act</a> will provide nuclear generators with nine years of financial support through 2032.And New Jersey officials also approved a $300 million customer-funded subsidy for the state's nuclear industry in 2019 despite its utilities board determining that the industry was "viable" and not in need of a subsidy.Both incentives were designed in part to support clean energy sources as an alternative to burning fossil fuels, which contribute to climate change.The company's move to extend its operating licenses drew bipartisan support Wednesday from New Jersey lawmakers."Nuclear power is a clean resource that provides reliability and diversity to the state’s supply of energy," said state Sen. John Burzichelli, <a href="https://www.foxnews.com/category/politics/elections/democrats" target="_blank" rel="noopener">a Democrat</a>."South Jersey’s nuclear plants consistently, reliably and affordably deliver power for our state, day and night, regardless of the weather," added Sen. Michael Testa, a Republican.PSEG Nuclear is a subsidiary of Newark, New Jersey-based Public Service Enterprise Group.

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published: 2024-04-03 22:28:45.000000000 Z
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 newspaper: US - Fox News
 macro_region: USA
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 guid: https://www.foxnews.com/us/company-behind-new-jerseys-3-nuclear-plants-seek-20-year-approval-continue-operations
title: Company behind New Jersey's 3 nuclear plants to seek 20-year approval to continue
 operations
categories:
- d1d292bf-bd8d-5764-ac4d-bc000499b2d8
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content: The company that owns New Jersey's three nuclear power plants said Wednesday
 it will seek federal approval to operate them for another 20 years.The move
 comes as <a href="https://www.foxnews.com/category/us/us-regions/northeast/new-jersey"
 target="_blank" rel="noopener">New Jersey</a> makes a strong push to become the
 East Coast leader in offshore wind. But the three power plants run by PSEG Nuclear
 LLC provide nearly half of New Jersey's electricity, and a licensing extension represents
 a potential hedge against not enough wind projects being available to meet the state's
 needs.An extension would enable the plants to run beyond 2050.<a href="https://www.foxnews.com/politics/biden-admin-provide-1-5b-loan-restart-michigan-nuclear-plant"
 target="_blank" rel="noopener">BIDEN ADMIN TO PROVIDE $1.5B LOAN TO RESTART
 MICHIGAN NUCLEAR PLANT</a>The company said it has notified the U.S.
 Nuclear Regulatory Commission of its intent to seek renewed licenses for the Salem
 Generating Station Units 1 and 2, and the Hope Creek Generating Station. All are
 located on one site on Artificial Island in Lower Alloways Creek Township, Salem
 County.It plans to file the extension request in the second quarter of 2027
 but needed to alert the commission far in advance to allow it to prepare for the
 review. If approved by the NRC, the licenses for Salem Units 1 and 2 would be extended
 from 2036 and 2040 to 2056 and 2060, respectively, and Hope Creek station would
 be extended from the current 2046 expiration to 2066, the company said."For
 more than five decades, the nuclear generating stations in south Jersey have safely
 generated reliable, always-on carbon-free energy," Charles McFeaters, president
 and chief nuclear officer of PSEG Nuclear, said in a statement. "Seeking to renew
 our licenses signifies our commitment to continuing to contribute to New Jersey’s
 clean energy future and serving as a vital economic engine for the local community."Beginning
 this year, a nuclear production tax credit included in the federal <a href="https://www.foxnews.com/category/us/economy/inflation"
 target="_blank" rel="noopener">Inflation Reduction Act</a> will provide nuclear
 generators with nine years of financial support through 2032.And New Jersey
 officials also approved a $300 million customer-funded subsidy for the state's nuclear
 industry in 2019 despite its utilities board determining that the industry was "viable"
 and not in need of a subsidy.Both incentives were designed in part to support
 clean energy sources as an alternative to burning fossil fuels, which contribute
 to climate change.The company's move to extend its operating licenses drew
 bipartisan support Wednesday from New Jersey lawmakers."Nuclear power is
 a clean resource that provides reliability and diversity to the state’s supply of
 energy," said state Sen. John Burzichelli, <a href="https://www.foxnews.com/category/politics/elections/democrats"
 target="_blank" rel="noopener">a Democrat</a>."South Jersey’s nuclear plants
 consistently, reliably and affordably deliver power for our state, day and night,
 regardless of the weather," added Sen. Michael Testa, a Republican.PSEG Nuclear
 is a subsidiary of Newark, New Jersey-based Public Service Enterprise Group.
summary: PSEG Nuclear LLC is seeking federal approval to continue operating its three
 New Jersey nuclear plans for another 20 years. An extension would allow operations
 past 2050.
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url: https://www.foxnews.com/us/company-behind-new-jerseys-3-nuclear-plants-seek-20-year-approval-continue-operations
image: https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2024/04/931/523/nj_nuclear.jpg?ve=1&tl=1

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