Rochester Gas & Electric to sell RE Ginna

3 July 2003

Rochester Gas and Electric (RG&E) has started exploring the sale of its R E Ginna plant. The 517MWe PWR is sited in Ontario, New York.

RG&E said that it is the only utility in New York state that has not implemented the state policy on utility-owned generation, which requires divestiture of generation and long-term rate stability under incentive rate-making plans. The RG&E statement said: "It is our intention to adopt that policy, which means selling generation where viable in today's marketplace and achieving long-term rate plans, which provide customer choice." RE Ginna has been mentioned as a possible acquisition target for a long time. RG&E submitted a licence renewal application to the Nuclear Regulatory Commission in August 2002 for the plant, whose current licence expires in 2009. A final decision on the 20-year extension is now expected in June 2004.
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