The US company GPU Inc has announced that it has reached agreement in principle to sell its Three Mile Island unit 1 to AmerGen Energy Co. AmerGen, which is a joint venture between PECO Energy Co and British Energy, will buy the unit for a total of $100 million – paying $23 million for the plant and $77 million for the fuel.
A definitive agreement of the deal is expected within 90 days. However, the agreement will require a series of regulatory approvals which will take until the end of 1999.
GPU is planning to sell all its generating assets, with the exception of its Oyster Creek nuclear plant, to transform itself into a transmission and distribution company. Having failed to find a buyer for the 619 MWe Oyster Creek unit, the company plans to retire it after 2000.