No Bailout: Three Mile Island To Finally Shut Down

The Associated Press reports:

Three Mile Island, site of the United States’ worst nuclear power accident, will begin a planned shutdown starting June 1 now that it is clear that it will not get a financial rescue from Pennsylvania, its owner said Wednesday.

Exelon Corp.’s statement comes two years after the Chicago-based energy giant threatened to close the money-losing plant without what critics have called a bailout.

Three Mile Island’s Unit 1 is licensed to operate through 2034, and shutting it down will cut its life short by 15 years. Power from the plant along the Susquehanna River is expected to be replaced by electricity from coal and natural gas-fired power plants that run below capacity in a saturated market. It will go offline by Sept. 30.