BERWICK, Pa., Oct. 17 /PRNewswire-FirstCall/ -- PPL Susquehanna has
filed a request with the U.S. Nuclear Regulatory Commission to increase the
amount of electricity its nuclear power plant can generate.
"The Susquehanna plant is a proven, reliable and safe producer of
electricity," said Lou Ramos, community relations manager for PPL
Susquehanna. "Increasing the output of an existing facility is a
cost-effective way to meet the region's need for additional electricity."
The NRC will perform a thorough technical review of the application, in
which PPL has provided analysis that demonstrates the plant can continue to
operate safely at higher power levels, he said.
The total expected increase is 205 megawatts, which is enough
electricity to supply about 160,000 homes. PPL would own 185 megawatts of
that additional generation; the rest would belong to the plant's co-owner,
Allegheny Electric Cooperative.
The two reactors at the Susquehanna plant were designed and built to
operate at the requested power level. On two previous occasions, PPL
Susquehanna received NRC approval to increase generating capacity of the
plant's two units: by 4.5 percent in 1994-95, and by 1.4 percent in
If the NRC approves this request, the increase in electrical output
will require modifying several systems, primarily turbines and generators,
which are non-nuclear components of the plant.
The NRC review process is expected to take a minimum of 12 months.
PPL already has factored the increased generation output into its
projected long-term compound annual growth rate of 11 percent and its 2010
earnings target of $3.50 per share. The capital costs for this power
increase also are included in PPL's capital plan.
The Susquehanna plant, located about seven miles north of Berwick, is
jointly owned by PPL Susquehanna LLC and Allegheny Electric Cooperative,
and is operated by PPL Susquehanna.
PPL Susquehanna is one of PPL Corporation's generating subsidiaries.
Headquartered in Allentown, Pa., PPL Corporation (NYSE: PPL) controls about
11,500 megawatts of generating capacity in the United States, sells energy
in key U.S. markets and delivers electricity to nearly 5 million customers
in Pennsylvania, the United Kingdom and Latin America. More information is
available at http://www.pplweb.com.
Statements contained in this news release, including statements with
respect to future earnings, cash flows, capital expenditures and generating
capacity, are "forward-looking statements" within the meaning of the
federal securities laws. Although PPL Corporation believes that the
expectations and assumptions reflected in these forward-looking statements
are reasonable, these statements involve a number of risks and
uncertainties, and actual results may differ materially from the results
discussed in the statements. The following are among the important factors
that could cause actual results to differ materially from the
forward-looking statements: market demand and prices for energy, capacity
and fuel; market prices for crude oil and the potential impact on synthetic
fuel operations; synthetic fuel purchases from third parties and the
phaseout of synthetic fuel credits; weather conditions affecting generation
production, customer energy usage and operating costs; competition in
retail and wholesale power markets; liquidity of wholesale power markets;
the effect of any business or industry restructuring; the profitability and
liquidity, including access to capital markets and credit facilities, of
PPL Corporation and its subsidiaries; new accounting requirements or new
interpretations or applications of existing requirements; operation and
availability of existing generation facilities and operating costs;
transmission and distribution system conditions and operating costs;
current and future environmental conditions and requirements and the
related costs of compliance, including environmental capital expenditures
and emission allowance and other expenses; significant delays in the
planned installation of pollution control equipment at certain coal-fired
generating units in Pennsylvania because of weather conditions, contractor
performance or other reasons; development of new projects, markets and
technologies; performance of new ventures; asset acquisitions and
dispositions; political, regulatory or economic conditions in states,
regions or countries where PPL Corporation or its subsidiaries conduct
business; any impact of hurricanes or other severe weather on PPL
Corporation's business, including any impact on fuel prices; receipt of
necessary governmental permits, approvals and rate relief; new state,
federal or foreign legislation, including new tax legislation; state,
federal and foreign regulatory developments; the impact of any state,
federal or foreign investigations applicable to PPL Corporation and its
subsidiaries and the energy industry; capital markets conditions, including
changes in interest rates, and decisions regarding capital structure; stock
price performance of PPL Corporation; the market prices of equity
securities and the impact on pension costs and resultant cash funding
requirements for defined benefit pension plans; securities and credit
ratings; foreign currency exchange rates; the outcome of litigation against
PPL Corporation and its subsidiaries; potential effects of threatened or
actual terrorism or war or other hostilities; and the commitments and
liabilities of PPL Corporation and its subsidiaries. Any such
forward-looking statements should be considered in light of such important
factors and in conjunction with PPL Corporation's Form 10-K and other
reports on file with the Securities and Exchange Commission.
SOURCE PPL Susquehanna