Caption: Susquehanna nuclear power plant
The U.S. Nuclear Regulatory Commission (NRC) approved a request to transfer ownership of a nuclear power plant in Pennsylvania.
Commissioners approved PPL Susquehanna’s request for indirect transfer of control of the operating licenses for units 1 and 2 of the Susquehanna nuclear power plant. The request is in line with its request to spin off its competitive energy supply business and combine it with competitive generation assets owned by RJS Power Holdings LLC, an affiliate of Riverstone Holdings LLC, to form a new independent power company, Talen Energy Corp.
The NRC reviewed the proposal and determined that the transfer would not adversely affect the technical or financial qualifications to operate the plant, or the assurance of funding for eventual decommissioning of the plant, and will not result in foreign ownership or control of the plant.
When the deal is completed, the name of the company holding the plant licenses will change from PPL Susquehanna LLC to Susquehanna Nuclear LLC, but the owner will not change. Susquehanna Nuclear will operate the plant, which will be jointly owned by Susquehanna Nuclear and Allegheny Electric Cooperative. The Federal Energy Regulatory Commission (FERC) and the Pennsylvania Public Utility Commission both approved filings related to the spinoff.
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