Susquehanna: First Private Nuke Plants in the USA

Nuke plants are normally owned by public utility companies. Is the Susquehanna facility the first private nuclear plant in USA. Public

House of Cards: Raymond Tusk

At the turn of the century, Clayton West expanded its nuclear business to Asian markets, a region that relied heavily on smog inducing coal power. China was the primary, and largest project of the firm's global expansion. China was also in the middle of political revolution, from communist ideals to managed capitalism. The Chinese's government's exit from business provided the conditions for Clayton West to secure a dominant market share in China's infant, but exponentially growing public economy.
By 2005, Clayton West's market cap had increased to an astounding US$90 billion, 30% of which was owned by well grounded CEO, Raymond Tusk.
In 2013 and with the 20-yr veteran Tusk at the head, Clayton West reached a market cap of US$150 billion USD, making it the largest nuclear power producer in history. As of 2014, Raymond Tusk has an estimated net worth of US$42.5 billion. 

utilities have the deep well of the pockets in the ratepayers. What happens if they have a big meltdown and lots of off site release? Who pays? Will there be less transparency? These plants are grossly obsolete dogs.

I think Nuke plant ownership with the public utilities has been a slow motion fifty year ongoing train wreck.

I think private ownership would be better.

I think government ownership with a fleet of new plants would be best...it is a unique form of energy production.

Nuclear license transfer paves way for Talen Energy to go private

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By Kurt Bresswein | For lehighvalleylive.com The Express-Times
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on December 02, 2016 at 6:27 AM, updated December 02, 2016 at 8:28 AM

                      

Allentown-based Talen Energy Corp. is cleared for sale to affiliates of Riverstone Holdings LLC, taking the competitive electricity generation company private.

Seen in an undated photo provided by PPL Corp., the Susquehanna Steam Electric Station is in Salem Township, Luzerne County, Pennsylvania, about seven miles north of Berwick and about 50 miles northwest of Allentown. (Courtesy photo | For lehighvalleylive.com)

 

The final regulatory approval on the deal came Wednesday, when the U.S. Nuclear Regulatory Commission approved transfer of the operating licenses for both reactors at the Susquehanna Steam Electric Station in Luzerne County.
Portfolio companies of Riverstone are taking control of the licenses from Talen as part of the acquisition. The transfer applies to licenses for Susquehanna's Units 1 and 2 boiling water reactors as well as the dry cask spent fuel storage installation at the plant in Salem Township, outside Berwick.
The plant is operated by Talen subsidiary Susquehanna Nuclear LLC, the 90 percent owner of the facility. The transfer does not affect the remaining 10 percent held by Allegheny Electric Cooperative Inc.
"The proposed indirect transfer of control is not expected to change Susquehanna Nuclear's role as the plant operator, its principal officers, managers or staff or ... the day-to-day management and operation of the units," the NRC says in a news release. "No changes will be made to the units or their licensing bases as a result of the transfer."