Vistra Receives Approval to Operate Comanche Peak Nuclear Plant Through 2053

Rhea-AI Summary

Vistra (NYSE: VST) has received approval from the Nuclear Regulatory Commission (NRC) to extend the operation of its Comanche Peak Nuclear Power Plant through 2053, an additional 20 years beyond its original licenses. This extension ensures continued reliable, baseload generation of zero-carbon electricity. The plant's two units can now operate until 2050 and 2053, respectively.

Comanche Peak is the third of Vistra's four nuclear plants to receive a license extension. The company's nuclear fleet has a capacity to generate over 6,500 MW of emission-free energy, powering about 3.25 million homes. The extension also secures continued economic benefits for the local area, with the plant employing over 600 employees and 200 permanent contractors, and paying more than $30 million annually in state and local taxes.

Positive

• NRC approval for 20-year license extension of Comanche Peak Nuclear Power Plant
• Increased capacity to meet growing electricity demand with zero-carbon energy
• Continued operation ensures economic benefits for local area, including jobs and tax revenue
• Vistra's nuclear fleet can generate over 6,500 MW of emission-free energy

Negative

• None.

NRC issues 20-year license renewal to the 2,400-megawatt nuclear plant, ensuring continued reliable, baseload generation of zero-carbon electricity

IRVING, Texas, July 30, 2024 /PRNewswire/ -- Vistra (NYSE: VST) today announced that the Nuclear Regulatory Commission has approved its request to extend the operation of Comanche Peak Nuclear Power Plant through 2053, an additional 20 years beyond its original licenses. The company submitted its application for license renewal with the NRC in October 2022.

"With demand for electricity growing at a rapid pace, reliable sources of power, like Comanche Peak, are going to be absolutely essential to meeting that need," said Jim Burke, president and chief executive officer of Vistra. "Importantly, this demand growth is happening at the same time as the country is transitioning to cleaner energy sources and many fossil plants are retiring. Electricity is one of the most basic building blocks of the economy, and extending the operation of our nuclear fleet provides decades of support for both existing and growing sectors."

"We take pride in the part we play every day in powering the grid with carbon-free energy. Our dedicated Comanche Peak team operates the plant safely and at a high level of performance, and I'm proud that this record of excellence has paved the way to securing another 20 years of operation," said Ken Peters, chief nuclear officer of Vistra. "I want to acknowledge the tremendous work by the team who facilitated one of the most efficient license renewal efforts with the NRC."

The NRC staff noted in an April report¹ to NRC commissioners that Vistra's "proactive and voluntary efforts" helped improve the timeliness and efficiency of the license renewal process. The company voluntarily submitted three supplements to the applications, which the staff said contributed to a 70% reduction in its requests for information compared to previous license renewals.

Comanche Peak, a two-unit facility, is the third of Vistra's four nuclear plants to receive its license extension from the NRC. Comanche Peak units 1 and 2 can now operate through 2050 and 2053, respectively. The company's Beaver Valley Nuclear Power Plant units 1 and 2 in Pennsylvania are licensed through 2036 and 2047, and Davis-Besse in Ohio is licensed through 2037. Perry Nuclear Power Plant in Ohio filed its application for renewal in 2023 and is currently in the NRC review process.

Reliable, Clean, Emission-Free Electricity

Nuclear plants are uniquely positioned to provide both carbon-free power and always-on baseload generation. Vistra has established a leading role in the responsible energy transition and expansion, with the nation's second-largest competitive fleet of nuclear power plants at the center of its zero-carbon generation portfolio. Together, these four nuclear plants have the capacity to generate more than 6,500 MW of emission-free energy, enough to power about 3.25 million homes.

Economic Engine for Local Economy

The extension of Comanche Peak's operation also ensures continued economic benefits to the local area. The plant is operated by more than 600 employees and more than 200 permanent contractors. Refueling outages for the two reactors require supplemental workers and bring in anywhere from 800-1,200 skilled technicians from across the country. These contractors are a source of substantial additional economic activity for hotels, restaurants, and related businesses in the area.

As the largest taxpayer in Somervell County, Texas, the plant pays more than $30 million a year in state and local taxes. Additionally, Comanche Peak donates thousands of dollars to community organizations, funds environmental protection programs, and takes part in civic engagement activities in both Somervell and Hood counties.

About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail electricity and power generation company that provides essential resources to customers, businesses, and communities from California to Maine. Based in Irving, Texas, Vistra is a leader in the energy transformation with an unyielding focus on reliability, affordability, and sustainability. The company safely operates a reliable, efficient, power generation fleet of natural gas, nuclear, coal, solar, and battery energy storage facilities while taking an innovative, customer-centric approach to its retail business. Learn more at vistracorp.com.

1Achieving Timely Completion of License Renewal Safety and Environmental Reviews (License Renewal Roadmap)

 

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SOURCE Vistra Corp.

FAQ

What is the new operational timeline for Vistra's Comanche Peak Nuclear Power Plant?

Vistra's Comanche Peak Nuclear Power Plant has received approval to operate through 2053. Unit 1 can now operate until 2050, and Unit 2 until 2053.

How much zero-carbon energy can Vistra's nuclear fleet generate?

Vistra's nuclear fleet, consisting of four plants, has the capacity to generate more than 6,500 MW of emission-free energy, enough to power about 3.25 million homes.

What economic impact does the Comanche Peak plant have on the local area?

The Comanche Peak plant employs over 600 employees and 200 permanent contractors, pays more than $30 million annually in state and local taxes, and brings in 800-1,200 additional workers during refueling outages, boosting local economic activity.

How did Vistra (VST) contribute to the efficiency of the license renewal process?

Vistra's proactive approach, including voluntary submission of three supplements to their application, contributed to a 70% reduction in the NRC's requests for information compared to previous license renewals.