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GPU says NRC approves transfer of Oyster Creek nuke
GPU says NRC approves transfer of Oyster Creek nuke
NEW YORK, June 9 (Reuters) - GPU Inc. <GPU.N> said Friday
the U.S. Nuclear Regulatory Commission (NRC) approved
transferring the operating license for the Oyster Creek nuclear
station in New Jersey to AmerGen Energy Co.
"We still need the approval of the New Jersey Board of Public
Utilities .... But we expect a reasonably prompt decision and
closure of the Oyster Creek deal fairly soon," GPU spokesman
Ned Reynolds told Reuters.
AmerGen, a U.S.-UK joint venture between Philadelphia-based
PECO Energy Co. <PE.N> and Edinburgh, Scotland-based British
Energy Plc <BGY.L>, agreed to buy the 619-megawatt Oyster
Creek reactor for $10 million in September 1999.
The New Jersey utilities board will next meet on June 22, although
there is no guarantee the state agency will consider the Oyster
Creek deal at that meeting, Reynolds said.
Reynolds said GPU was looking forward to a quick closure of the
Oyster Creek deal and the sale of GPU's other generating assets,
so the Morristown, N.J.-based company could concentrate on its
core transmission and distribution businesses and continue to
grow its newly acquired transmission construction and
maintenance group.
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