Duke Energy's largest nuclear plant receives approval to extend operations; supports growing energy demand, helps keep customer costs as low as possible

Core Viewpoint - The U.S. Nuclear Regulatory Commission has renewed Duke Energy's Oconee Nuclear Station operating licenses for an additional 20 years, allowing it to operate through 2053 and 2054, which supports the company's strategy for cleaner energy while maintaining reliability and affordability for customers as electricity demand grows [1][2][6] Group 1: License Renewal and Impact - Oconee Nuclear Station is the first of Duke Energy's nuclear facilities to achieve an 80-year operational license extension, with plans for similar renewals for other plants, including Robinson Nuclear Plant [2][10] - The renewal is crucial for South Carolina's energy generation to keep pace with economic growth, as emphasized by state officials [2][6] - Nuclear energy has provided over 50% of electricity to Duke Energy's Carolinas customers in 2024, highlighting its importance in the energy mix [4][8] Group 2: Operational Enhancements - Duke Energy has invested significantly in maintenance and upgrades at Oconee, including replacing reactor vessel heads, steam generators, and other critical equipment to ensure safe operations through mid-century [3][5] - In 2024, Oconee added a combined 45 megawatts through power uprate improvement projects across all three units [3] Group 3: Economic and Community Benefits - Duke Energy's nuclear plants generate large amounts of electricity at low operating costs, providing thousands of jobs and economic benefits to local communities [5] - The federal nuclear production tax credit incentivizes cost-efficient operations at existing plants like Oconee, further lowering nuclear energy costs for customers [5] Group 4: Future Energy Strategy - The approval of the license extension is a significant milestone for Duke Energy, aiding in the completion of license applications for other plants and ensuring nuclear energy remains a vital part of its generation portfolio [7][10] - Duke Energy is committed to an energy transition that includes investments in cleaner technologies while maintaining customer reliability and value [13]