Exelon, Entergy Decline on Japan Reactor Meltdown Threat |
| Bloomberg - Mar 15, 2011 |
Exelon Corp., owner of the largest group of U.S. nuclear power plants, declined as engineers in Japan struggled to stabilize a reactor similar in design to four of its units.
Exelon, based in Chicago, fell 27 cents to $42.89 at 4:15 p.m. in New York Stock Exchange composite trading. The shares declined as much as 5.5 percent in intraday trading, the most since May 6. Exelon’s 17 reactors at 10 stations in Illinois, Pennsylvania and New Jersey account for 20 percent of U.S. nuclear power capacity, according to the company’s website.
Fifteen U.S. reactors use a similar design to the General Electric Co. model at Tokyo Electric Power Co.’s Fukushima Daiichi No. 1, Hugh Wynne, a New York-based analyst for Sanford C. Bernstein, wrote in a note to clients today. Exelon has relied heavily on this design, he said.
The Japanese reactor was forced to vent radioactive vapor and gas over the weekend when its cooling system failed after the March 11 earthquake and tsunami that followed. Engineers are flooding that unit and two others with seawater trying to prevent meltdowns that may result in the release of catastrophic levels of radioactivity.
Read Full Article from Bloomberg
- Posted: 2011-03-15 10:51:35
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