The US Nuclear Regulatory Commission (NRC) has approved the renewal of Xcel Energy’s Monticello nuclear-generating plant’s operating licence, extending its operations by 20 years, to 2050.
The extension is contingent upon receiving the green light from state regulators.
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The Monticello plant is expected to play a “foundational role” in Xcel Energy’s strategy to achieve 100% carbon-free electricity.
Xcel Energy chairman, president and CEO Bob Frenzel stated: “The Monticello plant has long been an essential source of clean, safe and reliable energy, powering more than 500,000 homes annually in the Upper Midwest.
“As the only 24/7 carbon-free energy source we have, nuclear energy will be key to accelerating our journey to a clean energy future while ensuring we also meet the unprecedented growth in our customers’ demand for electricity.”
The licence renewal for Monticello is a result of a rigorous multi-year process. The NRC performed exhaustive inspections, audits and technical reviews to confirm the plant’s adherence to safety and environmental standards.
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By GlobalDataXcel Energy will now seek corresponding approval from state regulators to align with the federal licence extension.
The company previously secured approval from the Minnesota Public Utilities Commission to operate Monticello until 2040. The company plans to approach the Commission again for the subsequent decade.
The Monticello nuclear power plant along with its counterpart Prairie Island nuclear plant located in Red Wing, Minnesota, collectively provide 30% of the electricity for Xcel Energy’s customers in the Upper Midwest.
In 2022, these plants set a production record with 14,700 gigawatt-hours of energy. They are among the most reliable generating facilities in the company’s portfolio and are crucial for achieving Minnesota’s 100% carbon-free electricity goal by 2040.
Xcel Energy chief nuclear officer Chris Church stated: “For over 50 years, we have maintained, invested in and improved the Monticello plant to ensure it can continue to deliver for the communities we serve.
“By extending operations at the plant, we are carrying this commitment forward, and at the same time renewing our investment in the community of Monticello and the surrounding region.”
