22 Dec (NucNet): FPL Energy has reached an agreement to buy the two-unit Point Beach nuclear power plant in the state of Wisconsin from Wisconsin Electric Power Company, which does business under the name We Energies.
Under the terms of the agreement, which is scheduled to be completed in the third quarter of 2007, a wholly-owned subsidiary of FPL Energy will buy the plant for a total of approximately 998 million US dollars (USD) (755 million euros), including nuclear fuel, inventory and other items. The price represents USD 783 million for the plant itself and USD 215 million for fuel, inventory and other items.
FPL Energy will assume the management and operation of Point Beach from Nuclear Management Company. FPL will also assume responsibility for eventual decommissioning of the plant.
Point Beach is comprised of two pressurised water reactors. The 512-megawatt Point Beach-1 began commercial operation in December 1970 and the 514 MW Point Beach-2 in October 1972.
In December 2005, the US Nuclear Regulatory Commission renewed the operating licences for units one and two for 20 years, until 2030 and 2033 respectively.
In addition to the Duane Arnold nuclear power plant in Iowa, FPL Energy operates and owns a majority interest in the Seabrook nuclear power plant in New Hampshire. FPL Group’s other subsidiary, Florida Power & Light Company, operates four nuclear units in Florida at two sites, Turkey Point and St. Lucie.
>>Related reports in the NucNet database (available to subscribers)
20-Year Licence Renewals For US Point Beach Units (News No. 201, 27 December 2005)
US Operators Cancel Planned Merger (World Nuclear Review No. 44, 3 November 2006)
