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Talks Halt On CPS Buying Power From New Reactors

AUSTIN (AP) The South Texas Project could be losing business as the earthquake-caused nuclear disaster in Japan widens.

CPS Energy CEO Doyle Beneby on Monday announced that the utility and expansion partner NRG Energy mutually agreed to suspend talks over CPS possibly buying power from two proposed new reactors. Beneby says his thoughts are for the Japanese people.

The plant, located 90 miles southwest of Houston, near Bay City, currently has two nuclear units to produce carbon-free electricity.

Tokyo Electric Power Co., which had agreed to spend $155 million to become a 10 percent owner of the two additional reactors, operates a Japanese nuclear power plant crippled by last week's devastating earthquake.

CPS is a nearly 7 percent owner in the proposed expansion.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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