Climate Changed
Exelon to Shut Three Mile Island Nuclear Plant
- Proposal to aid reactors with $500 million a year is stalled
- Company said state legislature must act on bailout by June 1
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Exelon Corp. says it’s moving forward with plans to close the Three Mile Island nuclear plant in Pennsylvania after a bid to bail out struggling reactors has failed to advance in the state legislature.
Saying it’s clear legislation won’t pass in time to save the plant, Exelon will shutter the reactor -- site of the infamous 1979 meltdown -- by Sept. 30 as previously announced, according to a statement Wednesday. The company has lobbied for legislation to subsidize Pennsylvania’s nine reactors with an estimated $500 million a year from ratepayers.