Dive Summary:
- Exelon Corp. announced Tuesday it will scrap plans to expand production at two U.S. nuclear power plants due to low power prices and languid electricity demand growth.
- Exelon will not continue construction at the La Salle nuclear power plant in Illinois and the Limerick nuclear plant in Pennsylvania, resulting in a $100 million charge in the second quarter.
- Exelon, the largest U.S. operator of nuclear power plants, said poor market conditions explain the company's decision to ditch the projects.
From the article:
Exelon Corp. (EXC) said Tuesday that it has abandoned plans to expand production at two U.S. nuclear power plants, amid low power prices and tepid electricity demand growth.
Exelon said its decision not to proceed with construction at the La Salle nuclear power plant in Illinois and the Limerick nuclear plant in Pennsylvania would lead the company to take a $100 million charge in the second quarter.
