Dive Brief:

• Exelon CEO Chris Crane announced that five nuclear plants that had been losing money and were in danger of closing will not be shutting their doors any time soon. 
• The utility said earlier this year that five of its units may have to close, but improved market conditions with higher forward power prices as well as the need for reliable generation has improved their fortunes.
• Exelon is also participating in a new program with the Department of Energy that could see the company's Peach Bottom nuclear plant, built in the 1970s, extend its license by a further 20 years, meaning the plant would run for a total of 80 years. The plant has already had its license extended from an initial 40 years to 60 years of run time. 

Dive Insight:

The future could be in clean coal and nuclear power units, Crane said.

“Retirement of what we call the Eisenhower-era coal plants will help improve the economics of not only the nuclear fleet but also the clean, large coal units,” he said. “Having clean coal and nuclear setting the price will help secure a better pricing regiment."

Small modular nuclear reactors, which are easier to build and more cost-effective than big nuclear, could pave the way to securing reliable and clean energy in the U.S., Crane said. 

Despite the positive words, the company has been outspoken in criticizing the production tax credit for wind generation. Wind currently makes up 60 GW of the total U.S. generation, and Exelon says that is significant enough not to need tax credits to sustain itself.