Northern States Power in Minnesota is once again mulling the idea of forming a nuclear generating company (Genco) that would own and operate perhaps half a dozen existing nuclear plants in the Midwest. One idea the utility has been discussing with neighbouring Midwestern utilities would be to start with an alliance that could be able to procure parts and services for its members’ nuclear plants more cheaply, leading eventually to formation of a Genco.
James Howard, NSP’s chairman, president and CEO, said the time may be right to place NSP’s nuclear plants, along with other top nuclear plant performers, into a separate nuclear operating company, which would issue stock. Howard said a nuclear GENCO would enhance the value of the partners’ nuclear plants.
NSP operates the Prairie Island and Monticello nuclear station.