Thursday, December 21, 2006

We Energies Sells Nuke to FPL

The Palm Beach Post:

Wisconsin Energy Corp. is selling its only nuclear power plant to Florida-based FPL Energy in a deal worth about $1 billion, the companies announced Wednesday.

We Energies' agreement with the subsidiary of FPL Group Inc. includes $783 million for the plant and $215 million for its nuclear fuel and other inventories.

Milwaukee-based We Energies will buy the entire output of the plant, whose two reactors generate about a quarter of the company's energy needs.