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Three Mile Island nuclear plant to shut down by September 30

May 08, 2019 11:34 AM ETExelon Corporation (EXC) StockBy: Carl Surran, SA News Editor9 Comments
  • Exelon (NASDAQ:EXC -1.2%) says its Three Mile Island nuclear plant will shut down by Sept. 30 as planned, as it is clear the Pennsylvania legislature will not provide a financial rescue in time to reverse the retirement of the plant.
  • A ~$500M package for Three Mile Island and Pennsylvania's four other nuclear power plants has stalled without a vote in the state legislature, and today is the state Senate's last scheduled session for May.
  • EXC has won rescues in New Jersey, New York and Illinois, but in Pennsylvania it faced opposition from the state's strong natural gas industry as well as industrial users and consumer advocates.
  • The premature shutdown of Three Mile Island will cut its life short by 15 years, as it is licensed to operate through 2034, and its power is expected to be replaced by electricity from coal and natural gas-fired power plants that are running below capacity.

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