“We look forward to bringing FitzPatrick’s highly-skilled team of professionals into the Exelon Generation nuclear program, and to continue delivering to NY the environmental, economic and grid reliability benefits of this important energy asset”.
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Exelon announced on Tuesday that it will own and operate the plant.
FitzPatrick Nuclear Power Plant generates electricity for more than 800,000 homes and businesses.
Exelon has agreed to assume ownership and management of operations of FitzPatrick Nuclear Plant in Scriba, the company announced this morning.
Exelon, which runs the nearby Nine Mile Point reactors, had said any deal would be contingent on NY adopting a subsidy plan for nuclear reactors that compensates them for their clean emissions.
The closure of the transaction is contingent on regulatory review from agencies including the U.S. Department of Justice, the Nuclear Regulatory Commission, the Federal Energy Regulatory Commission and the New York State Public Service Commission. But several months of discussions with Exelon produced the new deal. It is now in negotiations with the General Assembly to get legislation passed that is similar to the subsidy plan in NY. Exelon had been working “feverishly” on negotiations to purchase the plant, which had been due to shut down in January.
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The plant was scheduled to close in January 2017. The agreement is worth $110 million, officials said.
