FERC Approves Reliability Must Run Settlement Agreement for Units at Talen Energy’s Brandon Shores and H.A. Wagner Power Plants
- Extension of power plant operations ensures continued revenue stream until 2029
- Agreement provides stable, predictable income through RMR structure
- Maintains critical infrastructure role in Baltimore's power supply
- Collaboration with multiple stakeholders demonstrates strong relationships with regulators and utilities
- Plants were originally scheduled for retirement, suggesting potential operational inefficiencies or environmental concerns
- Temporary solution until transmission upgrades are completed, indicating no long-term role beyond 2029
Agreement maintains reliable electricity supply in Baltimore through May 2029
HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen”) (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the “FERC”) has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates.
Talen, PJM Interconnection, L.L.C. (“PJM”), and a broad coalition of the Maryland Public Service Commission, Maryland customers, and electric utilities reached agreement in January on the “reliability-must-run” or “RMR” agreement approved today by FERC. Under the RMR agreement, Brandon Shores Units 1 and 2 and H.A. Wagner Units 3 and 4 will remain in service and provide power necessary to maintain grid and transmission reliability in and around the City of Baltimore until transmission upgrades to provide reliable power to the area from other sources are complete.
“We appreciate FERC’s approval of this important agreement, which will help to ensure the reliable supply of electricity to the people of Baltimore and its surrounding area,” said Mac McFarland, President and Chief Executive Officer of Talen. “Talen is pleased to help provide critical infrastructure with an RMR structure that simultaneously creates reliable electricity in Baltimore and protects Maryland consumer rates.”
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. 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/.
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FAQ
What is the significance of FERC's approval for Talen Energy's power plants?
How long will Talen Energy (TLN) operate the Baltimore power plants under the new agreement?
Which Talen Energy power units are covered under the FERC-approved agreement?
Why are Talen Energy's power plants being kept operational beyond their retirement date?
Who are the parties involved in Talen Energy's RMR agreement?
