New York state OKs sale of Ginna plant

The state Public Service Commission gave the go-ahead Thursday to the sale of a controlling interest in three upstate New York nuclear power plants, including the Ginna facility in Wayne County.

Saying the sale would have no significant impact on ratepayers, the commission ended an eight-month review of the purchase by Exelon Corp. of Constellation Energy Group's 50.1 percent interest in the Ginna plant and the Nine Mile Point I and II reactors in Oswego County.

The minority ownership share would continue to be held by Electricite de France, one of the world's largest utilities.

Transfer of Constellation's interest in the three upstate power plants, which can generate about 2,300 megawatts of electricity, is part of a $7.9 billion merger of the Baltimore-based company with Exelon, of Chicago.

The PSC said the combined companies, which will operate under the Exelon name, will have about 5 percent of the electricity generation market in New York state. Exelon will have only a "small" ability to influence the market, the commission concluded.

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