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Sale of Three Mile Island Reactor New Evidence That Nuclear Energy Is a Valuable Commodity

WASHINGTON—GPU Nuclear today announced the sale of Three Mile Island Unit 1 to AmerGen Energy Co. LLC, a joint venture of Philadelphia-based PECO Energy Co. and British Energy. The following is a statement by Joe F. Colvin, president and chief executive officer of the Nuclear Energy Institute, in response to today's announcement by GPU Nuclear.

"AmerGen's agreement to acquire the Three Mile Island nuclear power plant demonstrates that nuclear power plants are well positioned for competition in the electricity generation business.

"The sale, the first of an operating nuclear power plant in the United States, is among the many transactions of all electric generating facilities that will occur in the electric utility sector as companies position for the future. Three Mile Island consistently has demonstrated that it is safe, reliable and competitive today and for the future. For example, the plant recently completed the longest operating cycle of any light water reactor or fossil-fueled power plant in the world.

"AmerGen is relying on proven, emission-free nuclear power as a major source of electricity in an area of the country where clean air sources of electricity are most needed. Nuclear plants should have higher value in certain parts of the country because of clean air constraints, and thus be more competitive than is reflected simply by their current economic performance."


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