Constellation to seek license extensions for two Illinois nuclear plants
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Constellation Energy (NASDAQ:CEG) said Monday it will ask the Nuclear Regulatory Commission to extend the operating licenses of its Clinton and Dresden nuclear power plants in Illinois by an additional 20 years.
If approved by the NRC, Constellation (CEG) said Clinton could operate until 2047 and Dresden could operate until 2049 (Unit 2) and 2051 (Unit 3).
The two plants, along with three other Illinois plants, receive credits under two state laws that prevented the plants' early retirement and preserved the clean energy they provide.
The company said the additional carbon-free power generated by extending the licenses for 20 years will have the equivalent effect of taking 3.7M gas-powered vehicles off the road per year.
Constellation Energy (CEG) is "a buy as its cleared volumes will increase," SM Investor writes in an analysis published recently on Seeking Alpha.