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Duke Energy seeks to renew operating license for Robinson Nuclear Plant for another 20 years

1. Duke Energy seeks 20-year license extension for Robinson Nuclear Plant operations. 2. Renewal vital for meeting growing energy demand in the Carolinas, keeping costs low. 3. Robinson contributes 759 MW of carbon-free electricity, reinforcing nuclear's role. 4. About $1.7 billion invested in safety and efficiency upgrades for the plant. 5. License renewal supports local economy through jobs and tax contributions.

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FAQ

Why Bullish?

The extension enhances operational certainty and supports future earnings. Duke's past nuclear plant renewals, such as Oconee, positively affected stock confidence.

How important is it?

The planned upgrades and extended operations directly affect DUK's capacity and sustainability, making this news significant for potential investors.

Why Long Term?

The license renewal secures operations until 2050, promoting long-term financial stability and growth. Historical data indicates that nuclear license renewals often benefit stock prices over extended periods.

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NEEEXCSO
License extension supports growing energy demand, helps keep customer costs as low as possible , /PRNewswire/ -- Duke Energy announced today its submission of a subsequent license renewal application to the U.S. Nuclear Regulatory Commission (NRC) for Robinson Nuclear Plant, located near Hartsville, S.C. The application requests extending the plant's operations for an additional 20 years. Robinson Nuclear Plant The Robinson Nuclear Plant, which began commercial operation in 1971, has been a cornerstone of Duke Energy's commitment to providing secure and reliable electricity to its customers. The plant's continued operation is vital to meeting the growing energy needs of communities in the Carolinas while keeping costs as low as possible. In 2004, Robinson's license was renewed for an additional 20 years of operation until 2030. The subsequent license renewal would continue operations until 2050. "Renewing Robinson's operating license for a second time is a critical step in our commitment to providing reliable, always-on, cost-competitive power for our customers," said Kelvin Henderson, senior vice president and chief nuclear officer. "This extension will allow us to continue supporting our company's energy transformation and contributing to the local economy for decades to come." Nuclear energy remains a critical component of Duke Energy's diverse energy mix, supplying more than half of the electricity consumed by its Carolinas customers. The Robinson Nuclear Plant alone contributes significantly to this output, generating about 759 megawatts of carbon-free electricity."Though the first nuclear plant to enter commercial operation in the southeast, Robinson is a modernized plant fully prepared for operations into midcentury," said Laura Basta, site vice president of the Robinson Nuclear Plant. "We've invested approximately $1.7 billion into capital upgrades to our facility to enhance safety and efficiency."In addition to providing clean energy, the Robinson Nuclear Plant plays a significant role in the local economy, offering well-paying jobs and contributing to the tax base. The plant's license renewal will ensure the continuation of these benefits for the surrounding communities. The federal nuclear production tax credit also incentivizes our existing plants to operate as cost-efficiently as possible, further lowering the cost of nuclear energy for our customers. Through the years, Robinson has earned industry recognition for its commitment to innovation, including receiving several Top Innovative Practice Awards from the Nuclear Energy Institute. These investments ensure Robinson Nuclear Plant is equipped with modern, efficient components to support continuous operations, providing low-cost electricity and increased grid reliability for our customers.U.S. nuclear facilities are licensed by the NRC and were originally licensed to operate for 40 years based on economic considerations, not limitations of the technology. The process to renew a license requires a comprehensive analysis and evaluation to ensure the plant can safely be operated for the period of extended operation.The NRC recently approved the subsequent renewal of Duke Energy's three-unit Oconee Nuclear Station in Seneca, S.C., and the company intends to request subsequent license renewal for all 11 operating reactors in the nuclear fleet. For background and updates on the subsequent license renewal process, visit Duke Energy's subsequent license renewal webpage.Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.Contact: Patrick Flynn24-Hour: 800.559.3853SOURCE Duke Energy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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