Ginna Power Plant an Economic Powerhouse

R.E. Ginna nuclear power plant

(NEI) Feb. 9, 2015—The operation of Exelon’s R.E. Ginna Nuclear Power Plant generates an average annual economic output of over $350 million in western New York state and an impact on the U.S. economy of about $450 million per year, a new economic analysis reveals.

The study, “Economic Impacts of the R.E. Ginna Nuclear Power Plant,” was prepared by the Nuclear Energy Institute. It analyzes the impact of Ginna’s operations through the end of the facility’s 60-year operating license in 2029. The 580-megawatt pressurized water reactor produces enough electricity to power 400,000 homes. 
 
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Nine Mile Nuclear Plant begins dry runs with new spent fuel storage method

SCRIBA, N.Y. -- It's a question that is becoming more difficult to answer over time: Where can the radioactive byproduct of nuclear power, known as spent fuel, be stored?

Nuclear Regulatory Commission Public Affairs Officer Neil Sheehan says there isn't a simple answer to that question.

"We don't have a national depository, nothing on the horizon indicating we're gonna have one and we don't do recycling in this country," Sheehan said.

Meaning there's simply no place to put the nuclear waste. Initially, Olympic size pools were constructed at each nuclear plant to hold the spent fuel, but that was meant to be only a temporary solution while the federal government searched for a place to store it permanently. Decades later, a spot has not been found, so plants like Nine Mile have turned to storing the waste in on-site outdoor concrete storage modules.

"We are moving spent fuel from our spent pools inside the plant and we will be moving it out here to safely store it in dry cask storage facility," said Constellation Energy Nuclear Group Spokesperson Jill Lyon.

Nuclear plants throughout the country started using these types of storage facilities in the early 90s when the earliest constructed spent fuel pools began to fill up. But before the move can begin, staff are undergoing intense training and the Nuclear Regulatory Commission will be closely monitoring the dry runs, set to begin this week.

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Utilities are Betting on Nuclear Energy's Chances

The almost-retired John Rowe has been making a lot of headlines lately. It’s not just for Exelon’s merger with Constellation that is now this country’s combined nuclear energy powerhouse. It’s because the King of Nuclear is saying he is unsure that the fuel source will expand in the United States.

When the former chief executive of Exelon Corp. says something like that, it gets people’s attention — the kind of people who are just as huge in the global energy sector and who think differently. That’s okay with Rowe. He’s never been one to shy away from controversy. And it’s okay with him because in his heart-of-hearts, he wants the nuclear sector to grow and prosper.

“As someone who loves nuclear, it is a large speculation,” says Rowe. “It is 30 years before it breaks even. I think the combination of low natural gas prices and Fukushima will set a real nuclear renaissance back by several decades.”

Wow. Rowe, who spoke at the EnergyBiz Leadership Forum, goes on to say that wind and solar will become better and cheaper and that along with natural gas, may obviate the need for new nuclear power. Still, the country should fund the research and development so that it can maintain its nuclear know-now — just in case.

Japan, of course, suffered a massive earthquake and tsunami more than a year ago — one that took out the Fukushima nuclear units there. In that case, the backup power failed, allowing the spent fuel rods to become exposed and to cause a meltdown in the reactor’s core. Radiation then escaped.

At the same time, economic forces have been sweeping the world where new drilling techniques are allowing access to shale gas formations deep underground. The unconventional natural gas is now both plentiful and cheap. And the combined cycle plants used to generate electricity from such natural gas are efficient and less trouble to get permitted.

Nuclear energy, however, will remain prominent, say professionals who are acknowledging the current market fundamentals. This nation’s generation fleet is getting old and will need to be replaced. And all those units can’t be supplanted by natural gas, which has a history of volatility.

Nuclear power, by comparison, is relatively emissions free and over 30 years, is extremely cost efficient. While the upfront capital costs are huge, the uranium used to fuel them is abundant while the plants operate at least 90 percent capacity — more than any other generation form.

“Nothing has changed,” says Jacques Besnainou, chief executive of Areva North America, in an interview with this writer, referring to Japan’s crisis. “This event will make nuclear safer. We bet on the U.S. 10 years ago and we think it is still a good bet. Fukushima will not delay the renaissance.”

Any delays in nuclear construction will be a function of the economic downturn and its effect on energy demand — not the circumstances tied to Japan, the executive said. The way to move ahead, he adds, is to get government assistance to build the first few modern nuclear facilities by 2020. That would demonstrate that those plants are safe. Beyond that, such strategy would also help to create a steady supply stream for parts and fuel.

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Nuclear Regulatory Commission approves Exelon takeover proposal of Constellation Energy

BALTIMORE - Exelon's proposed takeover of Constellation Energy crossed another hurdle Thursday when the Nuclear Regulatory Commission approved the $7.9 billion deal.

Constellation's nuclear division, the Constellation Energy Nuclear Group, is licensed to operate five reactors and two spent fuel installations. The staffs at the plants, including management, will remain essentially unchanged when Exelon takes over, the NRC said. The agency also said public health and safety would not be adversely affected.

Constellation's nuclear division operates two reactors at Calvert Cliffs in southern Maryland, two at the Nine Mile Point plant in New York and one at the R.E. Ginna plant, also in New York. The NRC said its staff determined that Exelon, which already operates its own fleet of nuclear power plants, meets the agency's financial and technical requirements.

Maryland regulators are expected to announce on Friday whether they have approved the deal, which also must be approved by the Federal Energy Regulatory Commission. The deal has already been approved by the Justice Department, shareholders of both companies, and New York and Texas regulators. Regulatory approval was needed in Texas because both companies own plants in the state, and Constellation markets power and gas there.

If the deal goes through, Exelon would indirectly own 50.01 percent of CENG, which is jointly owned by Constellation Energy Group and EDF, Inc., a subsidiary of ElectricitDe de France SA. EDF had initially opposed the deal, but dropped its opposition in January, saying it had reached agreement with Exelon over the independence of CENG.

Maryland Gov. Martin O'Malley's administration had also opposed the deal initially, saying it was not in the public's interest, but O'Malley relented after the companies increased commitments to renewable energy and assistance to low-income residents.

However, Maryland's consumer advocate said in a filing earlier this month that it still opposed to the merger despite that settlement. The Maryland Office of People's Counsel said in a filing with the Maryland Public Service Commission that the two companies have not demonstrated the merger will not harm customers of Baltimore Gas and Electric, a Constellation subsidiary that is regulated by the commission.

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