HANCOCKS BRIDGE, N.J.,
June 30, 2011 /PRNewswire/ -- The
Nuclear Regulatory Commission (NRC) approved PSEG Nuclear's request
today to extend the operating licenses of Salem Generating Station
Units 1 and 2 an additional 20 years.
"The license renewal of Salem
is part of our ongoing commitment to provide safe, reliable energy
to New Jersey and the region,"
said Tom Joyce, president and chief
nuclear officer of PSEG Nuclear. "Today's milestone is the direct
result of our employees past and present who have played a key role
in our success."
PSEG Nuclear filed its request for license renewal in
August 2009. During the past two
years, a dedicated team coordinated site inspections and audits by
the NRC, provided volumes of additional information to the
regulator and participated in several meetings where the public was
provided with opportunities to offer comment on the proposed
license extension.
"Many members of the public came out to support us during this
process, speaking during the public meetings and writing letters
supporting our continued operation," explained Joyce. "We are
pleased that the community continues to have confidence in our
operation and we will work hard to maintain their trust over the
extended life of the stations."
Each Salem unit has a net
generating capacity of approximately 1175 megawatts. Salem Unit 1's
previous 40 year operating license was set to expire in 2016 with
Unit 2's operating license expiring in 2020. The plants will
now be licensed through 2036 and 2040 respectively.
Under the Atomic Energy Act, the NRC originally issued licenses
for commercial nuclear reactors for 40 years. This timeframe
was based on the amortization period generally used by electric
utility companies for large capital investments.
The NRC is also expected to announce a decision within the next
few weeks regarding the license renewal of PSEG Nuclear's single
unit Hope Creek Generating Station.
Located together on a 740-acre site in Lower Alloways Creek,
Salem County, the two Salem units and Hope
Creek comprise the second largest commercial nuclear power
facility in the United States.
Together the three nuclear units generate enough power for
approximately three million homes each day.
In New Jersey, nuclear power
has played a leading role in meeting the state's energy needs.
In fact, more than 50 percent of the state's electricity
comes from nuclear power.
Salem and Hope Creek are subject to an ongoing, rigorous
program of oversight and inspection by the NRC, led by four
full-time inspectors onsite, as well as supplemental inspectors
from the NRC regional headquarters. The plants also have
their own extensive programs in preventive and corrective
maintenance, equipment testing and monitoring and equipment
replacement.
Over the past five years, PSEG Nuclear has invested more than
$525 million in equipment upgrades
and enhancements to ensure the continued safe operation of the two
Salem units.
In addition to license renewal, PSEG Nuclear continues to
explore the possibility of building an additional nuclear plant in
Salem County. In May 2010, the company filed an application for an
early site permit (ESP). Though not a commitment to build, the ESP
would recognize the proposed location to be suitable from a safety,
environmental and emergency planning standpoint. An NRC
decision on the ESP is not expected until late 2013.
PSEG Nuclear is a part of PSEG Power, one of the nation's
largest independent power producers and a subsidiary of Public
Service Enterprise Group Incorporated (PSEG) (NYSE: PEG), a
diversified energy holding company. PSEG's other primary
subsidiaries are Public Service Electric and Gas Company
(PSE&G), New Jersey's oldest
and largest energy distribution utility company, and PSEG Energy
Holdings, a holding company for other non-regulated
businesses.
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SOURCE PSEG Nuclear