The Susquehanna nuclear power plant is located in Luzerne County, Pennsylvania, about seven miles north of Berwick.
Earlier, PPL proposed a plan to transfer license of the Salem Township facility to a new, independent company, Talen Energy, a spinoff of the power generation assets of PPL Energy Supply and investment firm Riverstone affiliate RJS Power.
The NRC, following an extensive review of PPL Susquehanna’s filing, determined that the transfer will not adversely affect the technical or financial qualifications to operate the plant, and will not result in foreign ownership or control of the plant.
Although the owner/operator arrangement will not change upon the completion of spinoff transaction, the name of the company holding the plant licenses will change from PPL Susquehanna to Susquehanna Nuclear.
Susquehanna Nuclear, which will be jointly owned by Susquehanna Nuclear and Allegheny Electric Cooperative, will operate the nuclear power plant.
The Federal Energy Regulatory Commission and the Pennsylvania Public Utility Commission also approved filings earlier related to the spinoff transaction.
A review by the US Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act is due to be completed prior to the completion of the transaction, which is scheduled in second quarter of 2015.
