Feds Reject $9.5B Nuclear Decommissioning Deal

Law360, New York (October 2, 2007, 12:00 AM EDT) -- The U.S. Department of Energy has declined to award a $9.5 billion contract proposed by Energy Solutions LLC and USEC Inc. to decommission two nuclear power plants after congressional leaders questioned the transaction, citing competition and government subsidy concerns.

Reps. John D. Dingell (D-Mich.) and Bart Stupak (D-Mich.) said on Tuesday that the DOE had informed them of the decision in a Sept. 20 letter after the legislators expressed concerns about the deal, which involved the decontamination and decommissioning of DOE's Portsmouth, Ohio and Paducah, Ky....
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.