PSEG Power completes acquisition of nuclear generating assets from Atlantic City Electric Co.

first_imgNuclear NEWARK, N.J., Oct. 19, 2001 — PSEG Power, through its PSEG Nuclear subsidiary, yesterday completed the acquisition of 301 megawatts (MW) of Atlantic City Electric Company’s ownership interest in three nuclear power facilities: the Salem and Hope Creek nuclear generating stations (Lower Alloways Creek, NJ) operated by PSEG Nuclear, and the Peach Bottom Atomic Power Station (Delta, PA) operated by Exelon Generating Company LLC. The amount of the transaction was $22 million, including nuclear fuel. New Jersey utility regulators extend zero-carbon breaks for PSEG nuclear power plants PSEG Power is a subsidiary of Public Service Enterprise Group Incorporated (PSEG). Atlantic City Electric Company is a subsidiary of Conectiv. Twitter Twitter PSEG Power completes acquisition of nuclear generating assets from Atlantic City Electric Co. No posts to display Facebook Previous articleConectiv subsidiary completes sale of nuclear interestsNext articleCanada’s Westcoast to sell $384.7 million (Can.) of assets chloecox Suitors for halted Bellefonte nuclear project ask TVA to consider climate in reviving sale Facebookcenter_img TAGSPSEG The acquisition involved: An 82-MW share of the 2,186-MW Peach Bottom station; a 167-megawatt share of the 2,212-MW Salem station; and a 52-megawatt interest in the 1,031 MW Hope Creek station. PSEG Nuclear now owns more than 3,400 MW of nuclear generating capacity including 100% of Hope Creek, approximately 57% of Salem, and 50% of Peach Bottom. PSEG Power is one of the nation’s largest independent power producers and energy trading companies with more than 17,000 megawatts of capacity in operation, construction, or advanced development. PSEG is a diversified energy holding company with headquarters in Newark, NJ. Linkedin By chloecox – RELATED ARTICLESMORE FROM AUTHOR Linkedin 10.19.2001 Optimizing Plant Performance: The April POWERGEN+ series activates today PSEG Nuclear, in September 1999, announced an agreement with Conectiv to purchase from its subsidiaries Delmarva Power & Light Company and Atlantic Electric Company a total of 544 MW of nuclear generating assets representing all of their ownership interest in Salem and Hope Creek and 50% of their interest in Peach Bottom. The Delmarva Power & Light portion of the transaction closed in December 2000. PSEG Power obtained operating rights to Atlantic’s share of the nuclear assets in October 2000 through a wholesale contract that was terminated by yesterday’s closing of the sale.last_img read more

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