Dive Brief:
- The U.S. Nuclear Regulatory Commission last week approved the transfer of operating licenses for PPL Corp.'s Susquehanna Steam Electric Station, Units 1 and 2, as part of the company's plan to spin off its competitive generation business.
- PPL had proposed to spin-off the generation and combine it with Riverstone's assets under the moniker Talen Energy.
- According to The Express Times, final approval of the deal must come from the U.S. Department of Justice and a decision is expected in the first half of this year.
Dive Insight:
PPL said in February that it was nearing completion of the generation spin-off, and the NRC's decision last week edges the company a bit closer.
Generating affiliate PPL Susquehanna LLC applied for the indirect transfer of its license in July of last year. Following the spin-off, PPL Susquehanna will be renamed Susquehanna Nuclear LLC, and will hold the reactors’ licenses and operating authority.
FERC has already approved the deal, and Pennsylvania regulators gave the thumbs up last month.
Last week, operators at the Susquehanna nuclear power plant disconnected the Unit 2 reactor from the electrical grid to begin a scheduled refueling and maintenance outage. PPL said that wile the reactor is shut down, workers will replace about 40% of the uranium fuel along with doing maintenance and upgrades at the facility. Unit 1 continues to operate at full power, the company said.
