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Canadian Firm Looking To Aquire Shares of Millstone

Central Vermont owns 1.7 percent share of Millstone and needs approval to transfer it to Canadian Company

 

Central Vermont Public Service Corp., which owns a 1.7 percent share of Millstone Nuclear Power Plant, is seeking approval to transfer the shares to a Canadian company, Gaz Metro, that is looking to aquire the Vermont firm, The Day reports.

According to the article, the Vermont company has applied for permission with the Nuclear Regulatory Commission to make the transfer.

NRC spokesman Neil Sheehan told The Day that an ammendment to the power plant license must be approved before a change in ownership can be granted.

Sheehan also told The Day that foreign companies are not allowed to own U.S. nuclear power plants, so the Vermont- and Canada-based companies must review this requirement with the NRC.

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