Exelon Generation on Friday announced that it would shut down the Oyster Creek Generating Station in New Jersey in October of this year, sending the 49-year-old nuclear plant into retirement 11 years before its license was set to expire in April 2029 and one year ahead of its previously announced closure date.
The company said it would close the plant “as part of an agreement with the State of New Jersey.” The new schedule for closure, said Exelon allows the company to meet its commitment with the state “while helping employees find jobs elsewhere in the company and managing costs.”
Exelon said in its release that continuing to operate Oyster Creek, one of the two oldest nuclear power plants in the country, was cost-prohibitive. The company opted for a closure earlier than previously scheduled to “better manage resources as fuel and maintenance costs continue to rise amid historically low power prices.”It was started up on the same day in 1969 that the Nine Mile Point plant started operations in Owego, N.Y., the Associated Press reported. Oyster Creek is technically older, however, because its operating license was issued first.
The plant will continue with a workforce of approximately 500 until October 2018. After that “some will stay on to safely and securely decommission the facility after its shut down,” according to the statement.
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