US power utility Public Service Enterprise Group (PSEG) has presented its Powering Progress vision in which it plans to shut down or sell all its coal-fired power plants fleet, while keeping operating only three gas-fired plants, namely the 1,060 MW Bridgeport, the 830 MW Keys and the 975 MW Sewaren power plants that will producing electricity until 2046. The company's coal phase-out strategy is set to be completed by 2021, when PSEG will have retire 2,400 MW of coal-fired capacity. PSEG intends to extend the operating licenses of its Salem and Hope Creek nuclear power plants, which will expire in 2036-2046. Around US$2.5bn will be invested in energy efficiency and new renewable energy projects to compensate the retired capacity. The utility aims to reach net-zero carbon emissions by 2050 with a reduction of 80% attainable by 2046 (compared to 2005 levels).
PSEG currently operates 11 GW of capacity, 60% of which is nuclear, 30% gas-fired, 8% coal-fired and 2% solar PV. In June 2019 PSEG announced that it would sell its 776 MW interest in the Keystone and Conemaugh coal-fired power plants in Pennsylvania (United States). Previously in 2016, PSEG Power announced the retirements of its Hudson and Mercer coal-fired power plants, totalling 1,252 MW of capacity, and the early retirement of its 383 MW coal-fired unit in Bridgeport (Connecticut) in 2021.
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