Exelon Generation to sell Oyster Creek nuclear power plant

• 5 years ago (2018-08-02)
• David Flin

North America 1004 Nuclear 643

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Exelon Generation and Holtec International, a specialist in used nuclear fuel management technologies, have announced an agreement for Holtec to purchase Oyster Creek Generating Station in New Jersey, USA. Under the terms of the agreement, subject to regulatory approval, Holtec will assume ownership of the site, real property, and used nuclear fuel. Holtec will manage all site decommissioning and restoration activities.

Oyster Creek is being closed ahead of schedule because it became too costly to operate in the current economic situation.

The transaction is due to close in the third quarter of 2019, pending the approval of the Nuclear Regulatory Commission. Holtec will be accelerating Oyster Creek’s decommissioning timeline.

As the new owner of the plant, Holtec will contract with Comprehensive Decommissioning International (CDI) to perform the decontamination and decommissioning of the plant. CDI is a joint venture company of Holtec and SNC-Lavalin.

Holtec will submit a new Oyster Creek decommissioning plan, which must be reviewed and approved by the NRC. The process provides opportunities for public review and comment on the plan during the NRC evaluation period. Holtec recently submitted a license application for an autonomous consolidated interim storage facility (CISF) in New Mexico to accept spent nuclear fuel from all nuclear plants in the USA, including from Oyster Creek.