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Article: New Jersey, New York Utilities to Sell Homer City, Pa., Power Plant.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 4, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Aug. 4--Last month, when GPU Inc. said it would sell its one working nuclear reactor at Three Mile Island for more than $100 million, about one-sixth its book value, Fred D. Hafer wasn't discouraged.
As the first commercial nuclear reactor to be sold in the country, TMI was an anomaly and difficult to compare to any other reactor sale in the nation.
Besides, Hafer, GPU's president, said he expected many of the Morristown-based utility's non-nuclear plants would bring in far more than their book values in the future.
Yesterday, Hafer's prediction proved correct.
GPU and Energy East Corp., a subsidiary of ...