Last week Exelon, the owner of Three Mile Island (TMI), announced that the plant would stop generating electricity in September. TMI was the only nuclear power plant in the state that was not profitable. The possibility of the closure was one of the driving forces behind the proposed nuclear power industry bailout being considered in the Pennsylvania General Assembly. TMI’s financial position added a sense of urgency to the legislative process.
According to our friends in the General Assembly and capitol watchers, it is unlikely that the bailout legislation will be moving forward. All of the remaining nuclear power plants are operating at a profit. It appears, thankfully, that majorities in the House and Senate are unwilling to subsidize the nuclear industry further.
CAP will continue to monitor activity related to the bailout, but it appears that the effort to force consumers to purchase more electricity generated by the nuclear power plants has lost momentum. We will be especially vigilant during the budget process, and let our readers know if any horse trading is done to resurrect the issue.