|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the PEG 10-Q filed Aug 2, 2006. 2005 Form 10-K, Page 21. In a letter to the NRC dated January 9, 2005, Power committed to install vibration-monitoring equipment on Hope Creek's “B” Reactor Recirculation Pump prior to the
89
unit's return to service to address pump vibration concerns and replace the pump's shaft during the next refueling outage or any sooner outage of sufficient duration. This commitment was the subject of a January 11, 2005 Confirmatory Action Letter from the NRC. The shaft was replaced during the Hope Creek outage in April 2006. On April 20, 2006, the NRC issued a Closure of Confirmatory Action Letter indicating that all of the commitments were completed. This excerpt taken from the PEG 10-Q filed May 2, 2006. 2005 Form 10-K, Page 27. Several states, primarily in the Northeastern U.S., are developing state-specific or regional legislative initiatives to stimulate CO2 emission reductions in the electric power industry. New York initiated the Regional Greenhouse Gas Initiative (RGGI) in April 2003. Currently, in the RGGI, seven Northeastern states have signed a memorandum of understanding (MOU) intended to cap and reduce CO2 emissions from the electric power sector in the RGGI region. A draft model rule was issued on March 23, 2006 but stakeholder comments are being received and the model rule has not been finalized.
States are expected to enact legislation and/or regulation representing, at least, the minimum requirements stipulated in the MOU. The NJDEP in 2005 finalized amendments to its regulations governing air pollution control that would designate CO2 as an air contaminant subject to regulation. The RGGI program is scheduled to start in 2009. The outcome of this initiative cannot be determined at this time; however, adoption of stringent CO2 emission reduction requirements in the Northeast could materially impact Power's operation of its fossil fuel-fired electric generating units.
This excerpt taken from the PEG 10-Q filed Oct 28, 2005. 2004 Form 10-K, Page 25. The environmental and regulatory staff members from the nine states in the Northeast that are participating in the Regional Greenhouse Gas Initiative (RGGI), including New Jersey, New York and Connecticut, issued a proposal in August 2005 that would cap CO2 emissions from electric generating units greater than 25 megawatts in the states participating in RGGI. The RGGI proposal also features a multi-state cap-and-trade program with market-based emissions trading. The proposal is currently being evaluated by each of the states' environmental and utility commissions for possible implementation. The Governor of New Jersey, referencing the state's participation in
RGGI, executed new regulations in October 2005 that designate CO2 as an air contaminant potentially subject to regulation. The ultimate outcome of this initiative, and its impact on Power, if any, cannot be determined at this time.
86
This excerpt taken from the PEG 10-Q filed Aug 2, 2005. 2004 Form 10-K, Page 19. The NRC has issued orders to all nuclear power plants to implement compensatory security measures. Some of the requirements formalize a series of security measures that licensees had taken in response to advisories issued by the NRC in the aftermath of the September 11, 2001 terrorist attacks. Nuclear has evaluated these orders for the Salem, Peach Bottom and Hope Creek facilities and does not expect the cost of implementation of the additional NRC measures to be material. Security measures required to be in place by October 2004 have been completed at Salem, Hope Creek and Peach Bottom. Additional security upgrades were identified and have been implemented following an NRC Force-On-Force security exercise in January 2005. A second Force-On-
83
Force exercise was completed in July 2005. NRC preliminary results indicated that PSEG has an effective and well-executed security plan for Salem and Hope Creek. This excerpt taken from the PEG 10-Q filed May 6, 2005. 2004 Form 10-K, Page 21. On April 26, 2005, PSE&G filed its RAC-12 filing with the BPU to recover approximately $18 million of remediation program expenditures for the period from August 1, 2003 through July 31, 2004. PSE&G believes that its expenditures for RAC-12 were reasonable and that its current rates should be continued to recover the RAC-12 costs.
| EXCERPTS ON THIS PAGE:
|
| |||||||
