Item 8.01 Other Events

On February 24, 2022, the Nuclear Regulatory Commission (NRC) issued an order related to its review of the subsequent license renewal application for the Peach Bottom units. While the NRC had previously granted subsequent license renewal to the Peach Bottom units, the NRC was responding to pending motions that had not previously been adjudicated. In its decision, the NRC reversed itself and concluded that the previous environmental review required by the National Environmental Policy Act (NEPA) was incomplete because it did not adequately address environmental impacts resulting from extending the units' licenses by 20 years. As a result, the NRC directed its staff to change the expiration dates for the licenses back to 2033 and 2034, until the completion of the NEPA analysis. The NRC directed, however, that the subsequently renewed licenses themselves remain in effect. The NRC also stated that it fully expects that the staff will complete its update of the NEPA analysis before 2033. To date, the NRC staff has not yet taken action to cause amendment of the licenses. We are reviewing the decision and considering our options. We cannot reasonably predict the outcome of this proceeding however any change to the current license expiration dates could have an adverse financial statement impact, which may be material.


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