CEG deal with French utility OK'd (full ownership control of a U.S. nuclear plant foreign entity)

CEG deal with French utility OK'd by FERC February 20, 2009 Constellation Energy Group has cleared one regulatory hurdle for sale of half of its nuclear power business to France's largest utility.

The Federal Energy Regulatory Commission approved yesterday the $4.5 billion transaction, saying the deal "will not adversely affect competition, rates or regulations."

The Baltimore company agreed in December to sell half of its nuclear business to Electricite de France. In doing so, Constellation scrapped an earlier agreement with MidAmerican Energy Holdings Co., a deal reached in September amid a liquidity crisis facing the company. Federal law prohibits full ownership or control of a U.S. nuclear plant by a foreign entity,

and the deal is subject to approval by the Nuclear Regulatory Commission and the (Committee on Foreign Investment in the United States.)

The Maryland Public Service Commission is investigating whether the deal would require its approval and has scheduled a hearing next month.

Hydrogen leak causes evacuation at Callaway Nuclear Plant

A hydrogen gas leak in the turbine building led to the declaration of an “Unusual Event” at AmerenUE's Callaway Nuclear Plant Thursday morning.

According to an Ameren press release, the unusual event - defined as “a relatively minor occurrence at a nuclear power plant that could reduce the overall level of safety” - was declared from 10:21-11:15 a.m. due to “flammable gas detected in amounts that adversely affected plant operations.”

The building was evacuated as a precaution and the warning was lifted once testing indicated the hydrogen level had declined. The source of the leak still is under investigation.

According to the release, there was no release of radioactivity to the environment above normal operating limits and there was no danger to plant workers or area residents.

Operators had shut down the plant earlier Thursday to replace power supply to certain plant controls.

Ameren officials said all appropriate federal, state and local agencies were notified of the incident. According to the release, an unusual event is the least significant of four emergency classifications established by the Nuclear Regulatory Commission. http://www.fultonsun.com/articles/2009/02/20/news/319news03.txt

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