TXU Corp. said Thursday it plans to build two to six gigawatts of new nuclear-fueled power generation capacity at one to three sites in Texas that would be online between 2015 and 2020.
TXU's plan includes using its existing asset base where possible to bring on the new capacity, including adding over two GW of new capacity at its Comanche Peak nuclear facility. TXU is reviewing its inventory of sites that were identified for nuclear power development over the last 30 years along with potential new sites in Texas and in other states.
TXU said its recently announced 9.1 GW of new coal-fueled power generation capacity is needed to meet near-term demand. By 2013 further demand growth is expected to absorb the proposed new coal-fueled capacity and reserve margins could approach levels the Electric Reliability Council of Texas considers insufficient to maintain reliability.
By filing for a Construction and Operting License before December 31, 2008, TXU said it expects to participate in nuclear production tax credits, nuclear risk insurance and federal loan guarantees specified in the 2005 Energy Policy Act. Such credits available to the industry are estimated to total $6 billion and would be allocated among qualifying facilities. The estimated costs of preparing and filing COLs for up to six GW are estimated to be $50 million to $150 million.
TXU said it is working with GE, Westinghouse, AREVA and other nuclear suppliers to select a preferred technology incorporating the newest designs and safety features.