NRC Approves Transfer of Susquehanna Nuclear Plant Licenses

The U.S. Nuclear Regulatory Commission (NRC) today announced approval of the indirect transfer of operating licenses for Units 1 and 2 of the Susquehanna Steam Electric Station in Berwick, Pennsylvania. The licenses will pass from Talen Energy to Riverstone Holdings as part of Riverstone’s proposed acquisition of Talen.

The Susquehanna plant has two boiling water reactors and a dry cask spent fuel storage installation. Units 1 and 2 are licensed to operate through July 17, 2042 and March 23, 2044, respectively. The plant is operated by a subsidiary of Talen, Susquehanna Nuclear, which owns a 90-percent stake in the plant and will continue to oversee operations at the facility.

The “indirect” nomenclature used to describe the transfer refers to a change in the holding company of a nuclear license. Such indirect transfers require NRC approval to ensure that new companies have sufficient technical and financial resources to safely operate a plant and eventually decommission it. 

The transfer does not affect the remaining 10 percent ownership stake in the plant, held by Allegheny Electric Cooperative Inc.