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Public Service Enterprise Group (NYSE:PEG) said Wednesday it will seek federal approval to operate New Jersey's three nuclear power plants for another 20 years.
PSEG (PEG) said it notified the U.S. Nuclear Regulatory Commission of its intent to seek renewed licenses for the Salem Generating Station Units 1 and 2, and the Hope Creek Generating Station.
The company said it plans to file the extension request in Q2 2027 but needed to alert the NRC far in advance to allow it to prepare for the review.
If approved, the licenses for Salem Units 1 and 2 would be extended from 2036 and 2040 to 2056 and 2060, respectively, and Hope Creek station would be extended from the current 2046 expiration to 2066, the company said.
New Jersey is making a strong push for offshore wind, but PSEG's (PEG) three nuke plants provide nearly half of the state's electricity, and a licensing extension would provide a potential hedge if wind projects are not sufficient to meet the state's needs.