Exelon announced that it plans to shutter Three Mile Island Nuclear Plant 15 years before its license expiries. On June 20th Exelon sent a letter to the NRC saying the plant would be shut down around September 30, 2019 due to “severe economic challenges.”
After Exelon failed to auction off future energy production from the plant for the third year in a row the company criticized electrical grid operator PJM Interconnection in a May 30 letter to the company saying PJM has not adapted to changes in the energy market. It said market rules don’t value the “clean, resilient” electricity provided by the plant.
In that letter, Bryan Hanson, Exelon Nuclear’s president, says TMI “is unprofitable and has lost more than $300 million over the past five years despite being one of Exelon’s best-performing plants.”
TMI’s operating license doesn’t expire until 2034.