Xcel reintegrating nuclear operations |
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Sun, 14 Oct 2007 21:03
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MINNEAPOLIS (AP) - Xcel Energy Inc. plans to integrate nuclear operations from a one-time joint venture into its energy supply unit, the electricity company said Friday.Xcel will transfer operating licenses for its Prairie Island and Monticello nuclear plants in Minnesota from Nuclear Management Co. to Northern States Power Co.-Minnesota, an Xcel-owned utility.Xcel was one of several companies with stakes in Nuclear Management at its formation in 1999. After We Energies, a Wisconsin Energy Corp. utility, sold Point Beach Nuclear Plant to FPL Group Inc. on Oct. 1, Xcel was left as the sole member.The company expects the license transfers to occur next year, pending approvals from the Nuclear Regulatory Commission. Nuclear Management employees will become Xcel employees and headquarters will relocate from Hudson, Wis., to Xcel offices in Minneapolis and St. Paul, Minn.Xcel shares fell 5 cents to $21.70 in afternoon trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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