Talen Statement on FERC’s Issuance of a Deficiency Letter Regarding Susquehanna ISA and New Generic Proceeding Initiating a Commissioner-led Technical Conference
02 Agosto 2024 - 6:46PM
Talen Energy Corporation ("Talen") (NASDAQ: TLN) issued the
following statements in response to the Federal Energy Regulatory
Commission (the “FERC”) today issuing a deficiency letter regarding
the Susquehanna Interconnection Service Agreement (ISA) and a
separate Order opening a new Commissioner-led technical conference
to discuss generic issues related to the co-location of large
loads:
Deficiency Letter in Susquehanna ISA Docket
Today, FERC Staff issued a deficiency letter seeking more
information about Talen, PJM, and PPL’s Susquehanna ISA. Talen will
work closely with PJM and PPL to respond quickly to the question
posed.
We are committed to making sure that the Commission has the
information that it needs, and we are optimistic that once it has
that information, the Commission will affirm PJM’s determination
that the ISA amendments will not negatively impact system-wide
reliability.
Commissioner-Led Technical Conference on Large
Co-Located Issues
In addition, in a separate Order, FERC opened a new proceeding
through which it will hold a Commissioner-led technical conference
in Fall 2024 to discuss generic issues related to the co-location
of large loads. Talen intends to fully participate in that process.
The broader issues need to be decided quickly, as delay will chill
investment and growth in an important sector of the modern
economy.
The policy discussion itself is worth having. Talen’s
co-location arrangement with AWS is part of the load solution. It
brings service to a new customer load quickly, which has arrived
and is significant. Co-location arrangements typically include
long-term power sale agreements essential to keep the existing
power generation fleet available for reliability. Further,
co-location can be the catalyst to provide support for newbuild
generation projects funded partially through economics of the power
purchase agreements. The data center economy will require an
all-of-the-above approach to satisfy the increased demand,
including both co-location such as Talen’s arrangement with AWS and
front-of-the-meter connections to utility transmission. We remain
resolute in the fact that we have a good solution to a growing
need.
About Talen
Talen Energy (NASDAQ: TLN) is a leading independent power
producer and energy infrastructure company dedicated to powering
the future. We own and operate approximately 10.7 gigawatts of
power infrastructure in the United States, including 2.2 gigawatts
of nuclear power and a significant dispatchable fossil fleet. We
produce and sell electricity, capacity, and ancillary services into
wholesale U.S. power markets, with our generation fleet principally
located in the Mid-Atlantic and Montana. Our team is committed to
generating power safely and reliably, delivering the most value per
megawatt produced and driving the energy transition. Talen is also
powering the digital infrastructure revolution. We are
well-positioned to capture this significant growth opportunity, as
data centers serving artificial intelligence increasingly demand
more reliable, clean power. Talen is headquartered in Houston,
Texas. For more information, visit
https://www.talenenergy.com/.
Investor Relations:Ellen LiuSenior Director,
Investor RelationsInvestorRelations@talenenergy.com
Media:Taryne WilliamsDirector, Corporate
CommunicationsTaryne.Williams@talenenergy.com
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of the federal securities laws, which statements are
subject to substantial risks and uncertainties. These
forward-looking statements are intended to qualify for the safe
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Litigation Reform Act of 1995. All statements other than statements
of historical fact included in this communication, or incorporated
by reference into this communication, are forward-looking
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earnings, litigation, regulatory matters, hedging, liquidity and
capital resources and accounting matters. Forward-looking
statements are subject to substantial risks and uncertainties that
could cause our future business, financial condition, results of
operations or performance to differ materially from our historical
results or those expressed or implied in any forward-looking
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forward-looking statements include assumptions underlying or
relating to such statements that may cause actual results to differ
materially from expectations, and are subject to numerous factors
that present considerable risks and uncertainties.
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