Constellation Energy Market Performance
33
Zero-Emission Credit (ZEC) Overview and Timelines
Plant
State
Capacity (MW) (¹)
2021
2022 2023 2024 2025
2026
2027
2028
2029 2030
Clinton
IL
1,080
June '17
May '27
Quad Cities
IL
1,403
June '17
May '27
Fitzpatrick
NY
842
April '17
March '29
Ginna
NY
576
April '17
March '29
Nine Mile Point
NY
1,676
April '17
March '29
Salem
NJ
995
June '22
May '25
Program Elements
General Description
°
Eligibility
New York ZEC Program
Under the state's clean energy standard, load serving
entities must purchase Zero Emission Credits from
NYSERDA who purchases them from the eligible nuclear
plants.
O
PSC selects units based on:
Impact on NY air quality based on PSC evaluation
Financial distress
Alternatives, customer impact, public interest
Bidder Data provided
Multi-year costs, risks and revenue projections
Illinois ZEC Program
Under Future Energy Jobs Act, utilities in the state
contract with zero emission facilities to procure all of the
Zero Emission Credits produced in a year by the facility.
IPA selects units based on:
•
•
Impact on IL air quality based on a formula
Financial distress
6 year costs, risks and generation projection
New Jersey ZEC Program
Under the state's clean energy standard, utilities will
purchase Zero Emission Certificates from certified
nuclear plants in an amount equivalent to all of the output
of the plant.
BPU selects units based on:
°
Impact on NJ air quality based on bidder input
Financial distress
•
New application required for each 3-year period
3 year costs, risks and revenue projections. Air impacts.
Term
ZEC Price
Price Adjustment(s)
Program Budget Cap
12 years (six 2-year periods)
$17.48/MWh for 1st period
(additional $2.30/period thereafter)
$39/MWh - Market Price Index
RGGI price deduct
$480M per year initially
(1) Reflects partially-owned units at ownership (Quad Cities is owned at 75% and Salem at 42.59%)
10 years
$16.50/MWh for 6 years
(additional $1/ year thereafter)
$31.40/MWh - Market Price Index
$235M per year cost cap
3-year periods
-$10/MWh for initial 3 years
Determined by NJ BPU for 2nd
3-year period and beyond
~$270 M per year initially
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