The information contained in this combined Form8-K is separately furnished by Public Service Enterprise Group Incorporated (PSEG) and PSEG Power LLC (Power). Information contained herein relating to any individual company is provided by such company on its own behalf and in connection with its respective Form8-K. Power makes representations only as to itself and makes no other representations whatsoever as to any other company.
Item 7.01 Regulation FD Disclosure
As previously disclosed, given the anticipated timing of the decision by the New Jersey Board of Public Utilities (BPU) on which nuclear plants, if any, have been selected to receive Zero Emission Certificates (ZECs), in March 2019 Power submitted to the PJM Independent Market Monitor and the PJM Office of Interconnection a request for a preliminary exception to PJM’s Reliability Pricing Model must-offer requirement with respect to Power’s interest for each of the Salem 1, Salem 2 and Hope Creek plants and with respect to Exelon Generation, LLC’s (ExGen) interest for the Salem 1 and Salem 2 plants, in connection with the 2022/2023 capacity auction expected to be held in August 2019. Today, Power also submitted deactivation notices for each of Salem 1, Salem 2 and Hope Creek and final must-offer exception requests with respect to its interests and ExGen’s interests in the plants. Under the deactivation notices, retirement of Hope Creek would occur in Fall 2019, retirement of Salem 2 would occur in Spring 2020 and retirement of Salem 1 would occur in Fall 2020.
If all of the Salem and Hope Creek plants are selected to receive ZECs, Power would withdraw the exception requests and deactivation notices. A decision by the BPU on which nuclear plants, if any, have been selected to receive ZECs is expected later this week.
2
