Global Energy News Roundup: June 1

The Forum on Energy weekly news roundup brings together a mix of global energy stories from around the web. It is published every Thursday and is available on Twitter via @forumonenergy


Three Mile Island Set to Close Without Additional Funding

On May 30 Exelon Corporation announced that it will close Three Mile Island nuclear plant in 2019 unless the Corporation receives state or federal subsidies. The Pennsylvania plant is infamous for a partial meltdown in 1979 and has faced financial instability for many years. The plant recently failed to find a buyer in a regional power auction for both 2020 and 2021, the third year which this has happened. Three Mile Island has a license to operate until 2034 but unless the federal or state government intervenes, it will face an accelerated closing date.

Source: CNN, The Wall Street Journal

U.S. to Withdraw from Paris Climate Agreement

President Trump announced today that the United States will begin the process of withdrawing from the Paris climate accord, which aimed to combat climate change. President Trump promised during his campaign that he would pull out of the agreement because he believed it harms the U.S. economy. Trump says he will work with other countries now to negotiate another deal “that’s fair.”

Source: The New York Times

The Nuclear Regulatory Commission Issues License for Nuclear Reactor

The federal Nuclear Regulatory Commission will be issuing a license to Dominion Energy for a proposed third nuclear reactor at the company’s North Anna plant. The reactor is a 1,600-megawatt General Electric-Hitachi designed and is estimated to cost up to $19 billion to build.

Source: Daily Progress

Canadian Nuclear Safety Commission Renews Operating License for Waste Facility

The Canadian Nuclear Safety Commission (CNSC) renewed an operating license for Ontario Power Generation’s Western Management Waste Facility. The operating license has been extended to May 31, 2027. The renewed license also allows for the construction of additional storage and processing facilities.

Source: World Nuclear News

FERC Seeks Commentary on Market Design Issues which Include Nuclear Power Plants

Last week, the Federal Energy Regulatory Commission (FERC) requested commentary on state goals for policy and wholesale electricity markets. The state policy goals include support (such as tax credits) for power plants that emit zero carbon, which covers nuclear power plants. The topic was addressed at a FERC conference in May and the Commission is seeking to explore the issue further to see what changes could be made to the electricity market design. Comments are due by June 22, 2017.

Source: The National Law Review