Microsoft is estimated to pay Constellation Energy a premium as part of a long-term power purchase agreement (PPA) related to the Three Mile Island nuclear plant in Pennsylvania, Jefferies analysts said on Monday.
FILE PHOTO: The Three Mile Island Nuclear power plant is pictured from Royalton, Pennsylvania, U.S. May 30, 2017. REUTERS/Carlo Allegri/File PhotoMicrosoft is estimated to pay Constellation Energy a premium as part of a long-term power purchase agreement related to the Three Mile Island nuclear plant in Pennsylvania, Jefferies analysts said on Monday.
Microsoft signed a deal with Constellation to help it restart a unit of its Three Mile Island nuclear plant, the companies said on Friday, sending the utility firm's shares up 22 per cent. A separate unit of the plant was shut down in 1979 after experiencing a partial meltdown, in one of the biggest commercial nuclear accidents in U.S. history.
The brokerage's analysts said the estimated cost represents a significant premium to market expectations, which are in the low $100 per MWh for a collocated deal.
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