Who Owns the Island? Corporate History of Three Mile Island

General Public Utilities - Holding Company that owned Three Mile Island. At the time of the Accident in March 1979, Three Mile Island I and 2 were owned three utilities operating in two states,  i.e., Metropolitan Edison (50%), Jersey Central Power & Light (25%) and Pennsylvania Electric (25%). The companies were organized under the General Public Utilities holding company umbrella. The operator of both plants was Met Ed.

Three Mile Island-1 (“TMI-1”), came on line in September 1974 at a cost of $400 million. Legal intervention was conducted by the Environmental Coalition on Nuclear Power (“ECNP”) based in State College.

Three Mile Island Nuclear Generating Station - In  September, 1974, Three Mile Island-1 (819 MW) PWR designed by Babcok & Wilcox came on line.  Two years behind schedule and two times over budget .

In December, 1978, Three Mile Island Unit-2  (900 MW)  PWR designed by Babcok & Wilcox came on-line three-times over budget, five years behind schedule, and built at a cost to rate payers of $700 million              

GPU Nuclear - In September, 1980 , Met Ed renamed itself GPU Nuclear in a bid to disassociate itself from itself. Met Ed continued operate, owned 50% of the plant.

July 17, 1998 - AmerGen Energy (British Energy and Exelon) announced that it reached an Agreement with GPU to purchase TMI-1 for $100 million. The proposed sale  includes $23 million for the reactor, and $77  million, payable over five years, for the nuclear fuel. On December 20, 1999, TMI-’s license was transferred from GPU Nuclear to AmerGen.

“Exelon was British Energy's (BE) partner in the AmerGen joint venture that bought three U.S. nuclear plants--Clinton, Oyster Creek and Three Mile Island-1. As expected, BE received about (U.S.)$ 277-million prior to various adjustments. BE said it will pay a break fee of $8.29-million to FPL Group, following termination of the original sale agreement between BE and FPL after Exelon exercised its right of first refusal and matched FPL's offer to become the sole owner of the AmerGen plants.” (Platts Nuclear News)

Exelon - Corporate entity created by the merger of PECO Energy and Commonwealth Edison. This company is licensed to operate nuclear generating stations in Illinois and Pennsylvania including Peach Bottom and Three Mile Island-1.

Three Mile Island-2 (“TMI-2”) came on line in December 1978,  at a cost of n$700 million, and was grossly over budget and behind schedule. Legal intervention was conducted by the ECNP and Three Mile Island Alert (“TMIA.”)

On  March 28, 1979, 4:00 a.m., the Three Mile Island (TMI) Unit-2 core melt began. On March 30, 1979 - Governor Richard Thornburgh recommended an evacuation for preschool children and pregnant women living within five miles of the plant. Schools in the area closed. Out of a target population of 5,000, over 140,000 Central Pennsylvanians fled the area.

TMI-2 remains  in Post-Defueling Monitored Storage in 1992. GPU contracts with AmerGen to maintain a skeletal staff presence at TMI-2. 

At the time of the Accident in March 1979, Three Mile Island I and 2 were owned three utilities operating in two states, i.e., Metropolitan Edison (50%), Jersey Central Power & Light (25%) and Pennsylvania Electric (25%). The companies were organized under the General Public Utilities holding company umbrella. The operator of both plants was Met Ed.

POL - Possession Only License. A POL is issued by the NRC for a non-operating nuclear reactor, e.g., TMI-2.

FirstEnergy - Electric holding company based in Akron, Ohio.   FirstEnergy is licensed to operate nuclear power plants in Ohio and Pennsylvania. FE and General Public Utilities merged in 2001. In November, 2001 - TMI-2 was formally transferred from GPU Nuclear to FirstEnergy. This company is responsible for decommissioning Saxton and TMI-2. GPU contracts with AmerGen to maintain a skeletal staff presence at TMI-2.