Junk Plant Susquehanna Heading For A Disaster With Equity Firm Ownership

update 8/4

Welcome to the swamp:

Talen Energy Corporation (NYSE: TLN) reported this morning a Net Loss of $3 million for the three months ended June 30, 2016, compared with Net Income of $26 million for the three months ended June 30, 2015, and Adjusted EBITDA of $132 million, compared with $171 million for the three months ended June 30, 2015.

The Net Loss in the second quarter includes an after-tax, non-cash asset impairment charge of $122 million related to the proposed Bell Bend nuclear power plant project. Although the project's Combined Operating License Application remains on file, licensing and permitting activities are suspended, and Talen Energy has no plans to resume them.

For the six months ended June 30, 2016, Talen Energy reported Net Income of $148 million, compared with $122 million for the six months ended June 30, 2015, and Adjusted EBITDA of $367 million, compared with $408 million for the six months ended June 30, 2015.  

Susquehanna are very old plants. The model for this is more plant scams, shutdown and increased NRC attention.

I wouldn't be surprised to see employee sabotage of all sorts... 

Talen Energy laying off 131 workers at Pennsylvania sites

July 22, 2016

Associated Press

BERWICK, Pa. (AP) — Talen Energy plans to cut 53 jobs at a central Pennsylvania nuclear power plant, and dozens of other jobs at other facilities around the state.

Company spokesman Todd Martin says the jobs will be cut at the Susquehanna Power Plant in Salem Township, near Berwick. That’s about 80 miles northeast of Harrisburg.

Another seven workers who support the plant but are based in Allentown are being cut, too. The plant has about 1,100 workers.

The cuts also include 29 workers at Talen’s Montour Steam Electric Station near Washingtonville, and 42 jobs at its Brunner Island plant in York County.

The International Brotherhood of Electrical Workers Local 1600 was notified of the cuts on Tuesday and has 10 days to review whether the cuts are in accordance with workers’ seniority.