Nuclear plant closed by for-profit company for first time

New York Times : The Kewaunee power plant in Wisconsin has been closed by Dominion, the private power company based in Richmond, Virginia, that purchased the plant in 2005. That makes it the first nuclear power plant that will have its decommissioning handled by a for-profit company instead of a local, regulated utility. The company has not announced whether it plans to dismantle the plant or wait for the radioactivity to subside and then refit it with modern systems. Either process will take decades and is expected to cost nearly $1 billion. However, the cost of decommissioning is constantly in flux, and predicting costs more than five or six years ahead is difficult. Dominion says it has set aside enough money to cover the process, but it also expects to receive additional funds from the Department of Energy. DOE had agreed to begin removing spent fuel rods from the plant a decade ago but has yet to begin the process. Legal proceedings against the department will likely provide Dominion with $350 million.