BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (https://pmc.platts.com), Please navigate to Platts Market Center to reset your password.

In this list
Electric Power

Iowa nuclear reactor could close before operating license expires: NextEra CFO

Fuel Oil | Marine Fuels

Off-spec Houston bunker fuel sparks contamination crisis

Electric Power

Platts Market Data – Electric Power

Commodities | Electric Power | Metals

Battery Metals Conference, Inaugural

Electric Power

Potential federal power plant subsidies complicate PJM capacity market rulemaking

Iowa nuclear reactor could close before operating license expires: NextEra CFO

NextEra Energy Resources' 647-MW Duane Arnold in Palo, Iowa, could close well before its operating license expires in 2034, an executive with parent company NextEra Energy said during its fourth-quarter 2017 earnings call Friday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

John Ketchum, CFO and executive vice president, finance, said that late last year the company concluded that it is unlikely the nuclear reactor's primary customer will extend a current contract after it expires in 2025. Ketchum did not name the primary customer.

"Without a contract extension, we will likely close the facility at the end of 2025, despite being licensed to operate until 2034," Ketchum said, according to a transcript of the call posted by financial news website Seeking Alpha.

Ketchum said the unit's book value and asset retirement obligation were reviewed and a $258 million after-tax impairment was recorded. Ketchum also said the company would continue to seek a contract extension that would enable the reactor to continuing operating.

-- Michael McAuliffe, newsdesk@platts.com
-- Edited by Valarie Jackson, newsdesk@spglobal.com