A Federal judge is ruling that the Tennessee Valley Authority does not have to sell an unfinished Alabama nuclear plant. But, the decision also means the nation’s largest public utility has to refund twenty two million dollars to the buyer, plus interest. The TVA shuttered its Bellefonte Nuclear Plant in Alabama back in 1988. A buyer, called Nuclear Development, wanted to purchase the facility. But, TVA pulled out of the deal, reportedly because the Nuclear Regulatory Commission hadn’t transferred the license from one party to the other. The ruling is a victory to the utility and could end the winding legal and business drama over the Bellefonte Nuclear Plant in Alabama. U.S. District Judge Liles Burke ruled TVA had no obligation to extend the closing deadline for a company called Nuclear Development to buy the facility. Burke did rule that TVA must return the down payment for the facility.
TVA wins, and loses, in Federal court over Nuclear Plant deal
