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Exelon cancels power uprates for LaSalle, Limerick nuclear plants

Highlights

Exelon has canceled plans for power uprates at four of its nuclearpower reactors in Illinois and Pennsylvania, the company has told the USSecurities and Exchange Commission.

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Exelon decided to cancel uprates for its Limerick reactors inPennsylvania and its LaSalle reactors in Illinois "based on marketconditions," the company said in a late Tuesday filing.

The company plans take an impairment of about $100 million inthe second quarter for "the costs for these projects currently capitalized inproperty, plant and equipment," Exelon said in its filing.

Exelon in June 2012 postponed the planned uprates at Limerick andLaSalle, saying that action and other measures would save it about $2.4billion through 2015.

The uprates would have added a combined 335 MW of capacity to LaSalle-1and LaSalle-2 in the base case by 2016, with a maximum potential of 376 MW,Exelon said in June 2009 when it announced uprates across its 17-unit fleet. Each of the LaSalle reactors have capacities of 1,206 MW. The uprates atLimerick-1 and Limerick-2 would have added 39 MW in the base case by 2017,with a maximum potential of 47 MW, it said at the time. The Limerick plantseach have capacities of 1,246 MW.

In its 2009 announcement, Exelon said the uprates would add 1,300MW-1,500 MW of capacity over eight years to its entire fleet, the country'slargest. However, the merchant generator was later hit hard by lower powerand natural gas prices in its key markets.

In June 2011, Exelon canceled uprates planned for its Clinton, Illinois,plant, and for its Three Mile Island-1, Pennsylvania, plant saying highercosts for the projects at the single-unit plants and lower electricity pricesmade the uprates uneconomic.

--Steven Dolley, steven.dolley@platts.com
--Edited by Richard Rubin, richard.rubin@platts.com