Atomic Energy Act Precludes Toshiba Nuke Plants, NRC Says

Law360, Houston (May 1, 2013, 5:36 PM EDT) -- The U.S. Nuclear Regulatory Commission on Tuesday blocked a multibillion-dollar plan by a joint venture of NRG Energy Inc. and Toshiba Corp. to build two nuclear reactors in south Texas, citing a U.S. law that prohibits foreign control of nuclear power plants.

The federal regulator denied the application of Nuclear Innovation North America LLC for a license to build the reactors, noting that Toshiba’s ownership stake in and “overwhelming financial contributions” to the project afford it a degree of control over the nuclear power plant that...
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