FirstEnergy Subsidiaries to Transfer TMI-2 to a Subsidiary of EnergySolutions
AKRON, Ohio, Oct. 15, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that its wholly-owned subsidiaries GPU Nuclear, Inc., Metropolitan Edison Company, Jersey Central Power & Light Company and Pennsylvania Electric Company have entered into an agreement for transfer of Three Mile Island Nuclear Generating Station Unit 2 (TMI-2) in Middletown, Pa. to TMI-2 Solutions, LLC, a subsidiary of EnergySolutions, Inc. of Charlotte, N.C.
The agreement would transfer the plant, property, nuclear decommissioning trust fund, plant licenses and responsibility for decommissioning of TMI-2 to the EnergySolutions subsidiary. The transfer is subject to required state and federal regulatory approvals. If approved, the proposed transaction is expected to close in the second half of 2020.
"Transfer of TMI-2 removes any future nuclear decommissioning obligations from FirstEnergy and is consistent with our strategy of focusing on regulated utility operations," said Greg Halnon, president and chief nuclear officer of GPU Nuclear. "EnergySolutions will complete the final remediation to transition TMI-2 from a safe and stable storage condition to a fully decommissioned facility."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
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