Gov. Sherrill, PSEG CEO talk N.J. nuclear expansion

New Jersey's two nuclear power plants, Hope Creek and Salem, may be joined by other nuclear facilities after lawmakers lifted the state's de facto moratorium on new nuclear construction.

Gov. Mikie Sherrill said state officials are eyeing sites for potential nuclear facilities. Executives at PSEG Nuclear-the operators of Hope Creek and Salem-welcome the news of the growing momentum for nuclear power in the state but cautioned it will take more than lifting a moratorium to make this feasible.

Expansion in New Jersey: Multiple news outlets have reported that New Jersey officials are looking at sites, including land near Salem nuclear plant. According to NJ.com, it is one of only six sites in the country preapproved for new nuclear power facilities. Sherrill told the news outlet it was "always anticipated we'd build another nuclear reactor down there."

Salem is co-located with Hope Creek in Hancocks Bridge, N.J. Hope Creek is home to one 1,172-MWe boiling water reactor, while Salem houses two pressurized water reactors-the 1,146-MWe Unit 1 and the 1,139-MWe Unit 2. Combined, the facilities produce more than 40 percent of the state's electricity.

During PSEG's first-quarter earnings call Tuesday, CEO Ralph LaRossa said PSEG is engaging in efforts to advance new nuclear development in the Hope Creek/Salem area, which features a completed port, access to a skilled workforce, and technical capabilities.

"It looks like nuclear is one of those areas that there's some momentum," he said during the conference call.

All indications are there is broad support from state officials like the governor, said LaRossa. Along with the signing of S. 3870/A. 4528, which lifted the moratorium, lawmakers created a state Nuclear Task Force that will gather government, industry, environment, and labor officials together to explore new nuclear endeavors.

Concern now shifts elsewhere, LaRossa said. While the federal government has shown interest in revitalizing the nuclear power industry, will that translate to investment in New Jersey?

"You need to ensure that not only do you have some financial support, but that you have the permitting support and the siting support," LaRossa said. "I heard a lot of that from our governor, that's one of the things that they want to streamline here in New Jersey."

He added, "I don't see any state taking on new nuclear without the support of the federal government."

On Tuesday's earnings call, executives also shared that Salem has a capacity uprate potential of nearly 200 MW. Additionally, PSEG expects the Nuclear Regulatory Commission will approve the subsequent license renewal applications for Salem's two PWRs and Hope Creek's BWR. The company submitted letters of intent to apply for SLR in March 2024. According to the NRC, the applications will be submitted between April and June 2027. If approved, the operating licenses for Salem-1 and -2 and Hope Creek would be extended into 2056, 2060, and 2066, respectively.