Xcel Energy faces more big investments to keep its nuclear units running Xcel faces $487 million in upgrades at its Prairie Island facility by 2020 By David Shaffer Star Tribune MARCH 19, 2016
The high cost of upgrading 40-year-old nuclear reactors is confronting Xcel Energy again.
Investments in the Prairie Island nuclear power plant in Red Wing, Minn., are projected to cost more than expected — $487 million by 2
20, with more spending needed in the next decade.
It’s not a replay of cost overruns at Xcel’s other reactor in Monticello, Minn. That 2013 surprise, which state regulators blamed on imprudent management, led Xcel to write off $125 million last year………
in a fresh surprise, Xcel also has offered to study shutting down Prairie Island years before the reactors’ operating licenses expire in 2033-34. Xcel isn’t pushing early retirement, which would accelerate the costly job of decommissioning. It’s an option being presented to the Minnesota Public Utilities Commission, which regulates Xcel’s rates and investments.
Two nuclear plants, including one in Wisconsin, have shut down for economic reasons since 2013. Four other nuclear plants in other states face similar challenges and are slated to close by 2019.
Even if Xcel retires its Prairie Island units in the 2020s, the Minneapolis-based utility said significant investment is needed just to keep them operating for a few years. One of the plant’s two generators is the original unit, and is to be replaced in 2018 if not sooner. Four cooling towers also need refurbishment or replacement, as do dozens of decades-old pumps, motors and controls, the utility said…….. the near-term investment in the Prairie Island plant isn’t the end of the story. Xcel said another $600 million to $900 million in additional work likely will be needed at Prairie Island in the 2020s………http://www.startribune.com/xcel-energy-faces-more-big-investments-to-keep-its-nuclear-units-running/372610701/
