Business Services Industry
Berlin, Conn.-Based Northeast Utilities to Sell Nuclear Power Plant.
Knight Ridder/Tribune Business News, September, 1999 by Hammer, David
Knight Ridder/Tribune Business News
Sep. 16 -- BERLIN, Conn. -- Northeast Utilities took a big step in distancing itself from the nuclear power industry Wednesday when the regional utilities giant announced official plans to auction off the Millstone nuclear plant.
NU said Millstone, which has already shut down one of its three reactors, won't be economically practical once deregulation of the industry makes for heated competition in Waterbury, Torrington and Winsted on Jan. 1, 2000, and in the rest of the region next July 1.
That is why NU vows that its subsidiaries, including those not directly associated with the utilities industry, would not bid for Millstone at auction.
"As we analyzed the markets, it showed us that if we wanted...
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