Exelon Corp. EXC, -2.39% said Tuesday it will prematurely retire its Three Mile Island nuclear power plant on or around Sept. 30, 2019, absent needed policy reforms. The company said it has started informing key stakeholders, including the PJM, a regional transmission organization. The company will book charges of $65 million to $110 million in 2017 and accelerate about $1 billion to $1.1 billion in depreciation and amortization charges through the announced shutdown date. Exelon has further terminated capital investment projects for the plant and is canceling 2019 fuel purchases and outage planning that will impact roughly 1,500 outage workers. "Absent policy reforms, the loss of Pennsylvania nuclear plants would increase air pollution, compromise the resiliency of the electric grid, raise energy prices for consumers, eliminate thousands of good-paying local jobs and weaken the state's economy," the company said in a statement. The Three Mile Island plant has 675 full-time workers and about another 1,500 contract workers. Exelon shares were not yet active in premarket trade, but had gained 0.9% in 2017 through Friday, while the S&P 500 SPX, -1.11% has gained 8%.