Exelon 2014 Annual Report Download - page 15

Licenses.Generation has 40-year operating licenses from the NRC for each of its nuclear units and has received 20-year operating
license renewals for Peach Bottom Units 2 and 3, Dresden Units 2 and 3, Quad Cities Units 1 and 2, Oyster Creek Unit 1, Calvert
Cliffs Units 1 and 2, Nine Mile Point Units 1 and 2, R.E. Ginna Unit 1, Three Mile Island Unit 1 and Limerick Units 1 and 2.
Additionally, PSEG has 40-year operating licenses from the NRC and has received 20-year operating license renewals for Salem
Units 1 and 2. On December 8, 2010, Exelon announced that Generation will permanently cease generation operations at Oyster
Creek by December 31, 2019. The following table summarizes the current operating license expiration dates for Generation’s
nuclear facilities in service:
Station Unit
In-Service
Date (a)
Current License
Expiration
Braidwood (b) ..................................................................... 1 1988 2026
2 1988 2027
Byron (b) ......................................................................... 1 1985 2024
2 1987 2026
Calvert Cliffs (c) ........................................................... 1 1975 2034
2 1977 2036
Clinton .................................................................. 1 1987 2026
Dresden (c) ....................................................................... 2 1970 2029
3 1971 2031
LaSalle (d) ........................................................................ 1 1984 2022
2 1984 2023
Limerick (c) ............................................................... 1 1986 2044
2 1990 2049
Nine Mile Point (c) ......................................................... 1 1969 2029
2 1988 2046
Oyster Creek (c)(e) ......................................................... 1 1969 2029
Peach Bottom (c) ................................................................... 2 1974 2033
3 1974 2034
Quad Cities (c) ............................................................ 1 1973 2032
2 1973 2032
R.E. Ginna (c) ..................................................................... 1 1970 2029
Salem (c) ......................................................................... 1 1977 2036
2 1981 2040
Three Mile Island (c) ................................................................ 1 1974 2034
(a) Denotes year in which nuclear unit began commercial operations.
(b) In May 2013, Generation submitted applications to the NRC to extend the operating licenses of Braidwood Units 1 and 2 and Byron Units 1 and 2 by 20 years.
(c) Stations for which the NRC has issued renewed operating licenses.
(d) In December 2014, Generation submitted applications to the NRC to extend the operating licenses of LaSalle Units 1 and 2 by 20 years.
(e) In December 2010, Exelon announced that Generation will permanently cease generation operations at Oyster Creek by December 31, 2019.
Generation currently has license renewal applications pending for Braidwood Units 1 and 2, Byron Units 1 and 2, and LaSalle Units 1
and 2. Generation has advised the NRC that any license renewal application for Clinton would not be filed until the first quarter of
2021. The operating license renewal process takes approximately four to five years from the commencement of the renewal process
until completion of the NRC’s review. The NRC review process takes approximately two years from the docketing of an application.
Each requested license renewal is expected to be for 20 years beyond the original operating license expiration. Depreciation
provisions are based on the estimated useful lives of the stations, which reflect the actual and assumed renewal of operating
licenses for all of Generation’s operating nuclear generating stations except for Oyster Creek.
In August 2012, Generation entered into an operating services agreement with the Omaha Public Power District (OPPD) to provide
operational and managerial support services for the Fort Calhoun Station and a licensing agreement for use of the Exelon Nuclear
Management Model. The terms for both agreements are 20 years. OPPD will continue to own the plant and remain the NRC
licensee.
Nuclear Uprate Program. Generation is engaged in individual projects as part of a planned power uprate program across its
nuclear fleet. When economically viable, the projects take advantage of new production and measurement technologies, new
materials and application of expertise gained from a half-century of nuclear power operations. Based on ongoing reviews, the
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