New York OKs Exelon Spin-off, Decommissioning of Nuclear Plants

Four nuclear units in Upstate New York owned by Exelon Corp. will be spun off and head toward decommissioning under a deal that New York regulators approved Thursday.

The Chicago-headquartered energy company is working to split its competitive power generation company, Exelon Generation, from its transmission and distribution utility holding company. The generation company will be called Constellation and the utility company will still be called Exelon.

The four New York plants owned by Exelon Generation included in the arrangement are: the two-unit, 1,918-megawatt Nine Mile Point nuclear power plants and the 842-megawatt James A. FitzPatrick nuclear power plant, both ...