Judge rules for TVA in nuclear sale, utility to give refund

Alabama News
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In this Wednesday, Sept. 7, 2016 photo, two cooling towers can be seen at the Bellefonte Nuclear Plant, in Hollywood, Ala. After spending more than 40 years and $5 billion on an unfinished nuclear power plant in northeastern Alabama, the nation’s largest federal utility is preparing to sell the property at a fraction of its […]

October 02 2021 06:00 pm

MONTGOMERY, Ala. (AP) — A judge ruled Tennessee Valley Authority does not have to sell an unfinished Jackson County nuclear plant to a company, but must refund millions over the aborted deal.

The ruling issued Thursday 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 $22 million down payment for the  facility, plus interest for the last three years.

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