Business Services Industry
Energy Companies to Purchase Pennsylvania Nuclear Power Plant.
Knight Ridder/Tribune Business News, July, 1998 by Rich Heidorn Jr.
Knight Ridder/Tribune Business News
Jul. 18--Three Mile Island, site of the nation's worst commercial nuclear accident, made history again yesterday as Peco Energy Co. and a British partner announced they will purchase TMI's undamaged Unit 1. It would be the first time that a U.S. nuclear power plant had changed hands.
AmerGen Energy Co., a joint venture of Peco and British Energy PLC, said it will pay GPU Inc. $100 million -- only one sixth of the plant's $600 million book value. Unit 2, which never reopened after a partial meltdown in the 1979 accident, will remain GPU's responsibility.
"Somebody asked if I wore a mask" to negotiate the deal, AmerGen president and Peco chief financial officer Michael Egan said, chuckling, in an interview...
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