NYSEG to sell 18% stake in Nine Mile Point 2

29 November 2000

New York State Electric & Gas has reversed itself and now wants to sell its 18% share of the Nine Mile Point 2 nuclear plant in upstate New York.

Previously, NYSEG had said it would not participate in an auction of the plant. NYSEG’s reversal guarantees that whoever buys Nine Mile Point 2 will be able to purchase a controlling interest. Niagara Mohawk Power Corp, which owns 41% of unit 2, has already said it will auction off its share. But Long Island Power Authority, which has an 18% share, plans to retain its stake, while Rochester Gas & Electric and Central Hudson Gas & Electric, which own 14% and 9%, respectively, will decide whether to sell their shares only after evaluating offers.

Nine Mile Point 2 will be auctioned at the same time as Nine Mile Point 1, which is 100% owned by Niagara Mohawk.

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.