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Released October 04, 2021 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--As nuclear-energy providers find themselves playing an increasingly important role in the fight against climate change, they are enjoying shorter refueling and maintenance outages on their units. Nonetheless, stiff competition from natural gas and renewable sources have pushed down related power prices, putting nuclear plants in an increasingly shaky economic position. Industrial Info is tracking nearly 100 active and planned outages at nuclear power plants across the U.S., with kickoff dates spanning the next six years.
Click on the image at right for a graph detailing the top 10 parent companies for planned U.S. nuclear outages in the coming years, by number of proposed outages.
According to the U.S. Energy Information Administration (EIA), U.S. nuclear power plants typically refuel every 18 to 24 months, mostly in fall and spring when electricity demand is lower. But the decline in daily capacity outages during the summer months points to the generally improved efficiency and planning of plant operators nationwide: Outages from June 1 through August 31 averaged 3.1 gigawatts (GW), 22% less than the 4-GW average in the summer of 2020, according to the EIA.
Going forward, about half of the 95 active and planned nuclear outages across the U.S. can be attributed to just four companies: Exelon Corporation (NYSE:EXC) (Chicago, Illinois), Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina), NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) and Tennessee Valley Authority (TVA) (Knoxville, Tennessee). Each of these companies, as well as their advocates in various state governments, see nuclear as a crucial component in the fight to reduce carbon emissions from power generation.
Exelon, which leads all other companies in the number of planned and active nuclear-generation outages, has spent the past few months at the center of the ongoing debate about the future of nuclear power. The company had been struggling to save two economically challenged nuclear plants in Illinois--the Byron Nuclear Power Station and the Dresden Nuclear Power Station--from closing until last month, when the state government OK'd an energy bill that included $700 million to keep those and two other Exelon plants--the Braidwood Nuclear Power Station and the La Salle County Generating Station--open. For more information, see August 4, 2021, article - Exelon Plans to Close Two Uneconomic Illinois Nuclear Stations This Fall, and September 17, 2021, article - Exelon's Illinois Nuclear Units Will Stay Open as State Adopts New Energy Plan.
The Braidwood and La Salle stations are among those preparing for refueling outages in the coming months. The 1,166-megawatt (MW) Braidwood Unit 2 is expected to be down for 20 days this quarter, while the 1,137-MW La Salle Unit 1 is expected to be down for 22 days in the first quarter of 2022. Although neither plant was at risk of immediate closure, like Byron and Dresden, Exelon said their long-term economic viability would have been in question without the state's support. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Braidwood and La Salle projects.
Illinois generates more nuclear energy than any other U.S. state, followed by Pennsylvania and South Carolina. Exelon's Peach Bottom Nuclear Power Station in Delta, Pennsylvania, is preparing for an outage at its 1,112-MW Unit 3 later this year. Although Pennsylvania currently relies on fossil fuels for 66% of its net power generation, the state's recently released 2021 Climate Action Plan indicates it will maintain its nuclear generation at current levels until its carbon-free generation reaches 100%, which it expects to see by 2050, according to Power Magazine. Subscribers can learn more about the Peach Bottom outage from Industrial Info's project report.
Duke Energy, which is the top power-generation company in the Carolinas, is preparing for two outages at its Oconee Nuclear Power Station in Seneca, South Carolina, in the coming months: the 846-MW Unit 2 in the fourth quarter and the 846-MW Unit 3 in the second quarter. Duke recently reaffirmed its commitment to reduce its carbon emissions from 2005 levels by 50% in 2030, with full carbon neutrality by 2050. The company also is pursuing a separate net-zero goal for methane, one of the most potent greenhouse gases. Subscribers can learn more from Industrial Info's project reports on the Oconee Unit 2 and Unit 3 outages.
Lynn Good, the chief executive officer of Duke Energy, recently said in an interview with S&P Global Incorporated (New York, New York) that any significant reduction in carbon levels will require the existing nuclear fleet, as well as newer technology like small modular reactors, to continue to provide carbon-free nuclear energy until renewables sufficiently ramp up.
"When we get to 60%, 70%, maybe 80% reduction in carbon, we begin to look for technologies that don't exist today," Good said. "As we think about a path forward to reduce carbon emissions... we want to build on that foundation of nuclear; because think of a world in which it's not there, the challenge to get to net zero would be even greater for Duke Energy."
NextEra's planned outages for the remainder of 2021 include the 1,241-MW Unit 1 at the Seabrook Nuclear Power Station in Seabrook, New Hampshire, and the 600-MW Unit 2 at the Point Beach Nuclear Power Station in Two Rivers, Wisconsin. Concurrently, TVA is planning outages at the 1,123-MW Unit 1 at the Watts Bar Nuclear Power Station in Spring City, Tennessee, and the 1,130-MW Unit 2 at the Sequoyah Nuclear Power Station in Soddy Daisy, Tennessee. Subscribers can read detailed project reports on the Seabrook, Point Beach, Watts Bar and Sequoyah projects.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of planned U.S. nuclear outages in the coming years.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
Click on the image at right for a graph detailing the top 10 parent companies for planned U.S. nuclear outages in the coming years, by number of proposed outages.According to the U.S. Energy Information Administration (EIA), U.S. nuclear power plants typically refuel every 18 to 24 months, mostly in fall and spring when electricity demand is lower. But the decline in daily capacity outages during the summer months points to the generally improved efficiency and planning of plant operators nationwide: Outages from June 1 through August 31 averaged 3.1 gigawatts (GW), 22% less than the 4-GW average in the summer of 2020, according to the EIA.
Going forward, about half of the 95 active and planned nuclear outages across the U.S. can be attributed to just four companies: Exelon Corporation (NYSE:EXC) (Chicago, Illinois), Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina), NextEra Energy Incorporated (NYSE:NEE) (Juno Beach, Florida) and Tennessee Valley Authority (TVA) (Knoxville, Tennessee). Each of these companies, as well as their advocates in various state governments, see nuclear as a crucial component in the fight to reduce carbon emissions from power generation.
Exelon, which leads all other companies in the number of planned and active nuclear-generation outages, has spent the past few months at the center of the ongoing debate about the future of nuclear power. The company had been struggling to save two economically challenged nuclear plants in Illinois--the Byron Nuclear Power Station and the Dresden Nuclear Power Station--from closing until last month, when the state government OK'd an energy bill that included $700 million to keep those and two other Exelon plants--the Braidwood Nuclear Power Station and the La Salle County Generating Station--open. For more information, see August 4, 2021, article - Exelon Plans to Close Two Uneconomic Illinois Nuclear Stations This Fall, and September 17, 2021, article - Exelon's Illinois Nuclear Units Will Stay Open as State Adopts New Energy Plan.
The Braidwood and La Salle stations are among those preparing for refueling outages in the coming months. The 1,166-megawatt (MW) Braidwood Unit 2 is expected to be down for 20 days this quarter, while the 1,137-MW La Salle Unit 1 is expected to be down for 22 days in the first quarter of 2022. Although neither plant was at risk of immediate closure, like Byron and Dresden, Exelon said their long-term economic viability would have been in question without the state's support. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can read detailed reports on the Braidwood and La Salle projects.
Illinois generates more nuclear energy than any other U.S. state, followed by Pennsylvania and South Carolina. Exelon's Peach Bottom Nuclear Power Station in Delta, Pennsylvania, is preparing for an outage at its 1,112-MW Unit 3 later this year. Although Pennsylvania currently relies on fossil fuels for 66% of its net power generation, the state's recently released 2021 Climate Action Plan indicates it will maintain its nuclear generation at current levels until its carbon-free generation reaches 100%, which it expects to see by 2050, according to Power Magazine. Subscribers can learn more about the Peach Bottom outage from Industrial Info's project report.
Duke Energy, which is the top power-generation company in the Carolinas, is preparing for two outages at its Oconee Nuclear Power Station in Seneca, South Carolina, in the coming months: the 846-MW Unit 2 in the fourth quarter and the 846-MW Unit 3 in the second quarter. Duke recently reaffirmed its commitment to reduce its carbon emissions from 2005 levels by 50% in 2030, with full carbon neutrality by 2050. The company also is pursuing a separate net-zero goal for methane, one of the most potent greenhouse gases. Subscribers can learn more from Industrial Info's project reports on the Oconee Unit 2 and Unit 3 outages.
Lynn Good, the chief executive officer of Duke Energy, recently said in an interview with S&P Global Incorporated (New York, New York) that any significant reduction in carbon levels will require the existing nuclear fleet, as well as newer technology like small modular reactors, to continue to provide carbon-free nuclear energy until renewables sufficiently ramp up.
"When we get to 60%, 70%, maybe 80% reduction in carbon, we begin to look for technologies that don't exist today," Good said. "As we think about a path forward to reduce carbon emissions... we want to build on that foundation of nuclear; because think of a world in which it's not there, the challenge to get to net zero would be even greater for Duke Energy."
NextEra's planned outages for the remainder of 2021 include the 1,241-MW Unit 1 at the Seabrook Nuclear Power Station in Seabrook, New Hampshire, and the 600-MW Unit 2 at the Point Beach Nuclear Power Station in Two Rivers, Wisconsin. Concurrently, TVA is planning outages at the 1,123-MW Unit 1 at the Watts Bar Nuclear Power Station in Spring City, Tennessee, and the 1,130-MW Unit 2 at the Sequoyah Nuclear Power Station in Soddy Daisy, Tennessee. Subscribers can read detailed project reports on the Seabrook, Point Beach, Watts Bar and Sequoyah projects.
Subscribers to Industrial Info's GMI Project Database can click here for a full list of planned U.S. nuclear outages in the coming years.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
