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TWO RIVERS, Wis. - The U.S. Nuclear Regulatory Commission has approved subsequent license renewal for Point Beach Nuclear Plant Units 1 and 2, extending their operations through 2050 and 2053, respectively, according to a statement released Monday. The plant is operated by NextEra Energy (NYSE:NEE), a utility giant with a market capitalization of $156 billion and a robust gross profit margin of 62%.
The approval follows a multi-year application process and ensures Wisconsin’s only nuclear power plant will continue operating for approximately three more decades. According to InvestingPro analysis, NextEra Energy shows fair financial health, with analysts predicting continued profitability this year. For deeper insights into NEE’s financial outlook and more exclusive ProTips, explore InvestingPro’s comprehensive research report.
Point Beach, which began commercial operations in 1970 (Unit 1) and 1973 (Unit 2), generates enough electricity to power nearly 1 million homes and businesses, providing approximately 14% of Wisconsin’s total electricity.
"This approval ensures that Wisconsin’s only nuclear plant will continue to provide safe, reliable, low-cost energy for generations to come," said Brian Bolster, NextEra Energy Resources president and chief executive officer in the press release.
The facility operates on a 1,200-acre site along Lake Michigan and employs approximately 400 permanent workers. According to the company statement, the plant contributes more than $80,000 annually in community donations. This commitment to community support aligns with NextEra’s strong dividend history, having raised dividends for 29 consecutive years, as highlighted by InvestingPro data.
Thad Edmonds, Point Beach Site Vice President, noted that the renewal process required meeting regulatory expectations to ensure the plant’s continued role in Wisconsin’s energy supply.
Point Beach joins other NextEra Energy (NYSE:NEE) nuclear facilities that have received license renewals, including Turkey Point Nuclear Power Plant operated by Florida Power & Light, a NextEra subsidiary.
In other recent news, NextEra Energy has been the focus of several analyst updates and company announcements. UBS has reiterated its Buy rating for NextEra Energy, maintaining a price target of $84, expressing confidence in the company’s long-term earnings growth potential. Mizuho has adjusted its price target from $74 to $78, following NextEra Energy’s announcement of a rate settlement, which includes an improved return on equity range. This settlement, filed by Florida Power & Light and ten stakeholder groups, reduces the original revenue request by approximately 30% while keeping residential bills below national averages.
Additionally, Melius Research initiated coverage of NextEra Energy with a Buy rating and a price target of $77, highlighting the company’s leadership in renewable energy. The rate settlement agreement, pending approval from the Florida Public Service Commission, aims to modestly increase residential customer bills starting in 2026. UBS also addressed investor concerns about a potential "earnings cliff," noting that these worries are likely exaggerated. Overall, these developments reflect a focus on NextEra Energy’s growth strategies and financial stability.
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