Monday, October 7, 2002 · Last updated 5:55 p.m. PT
Repair Costs Jump at Ohio Nuke Site
AKRON, Ohio -- FirstEnergy Corp. said Monday it will spend $115 million more than projected in restoring its Davis-Besse nuclear power plant, which won't be operational until next year.
Akron-based FirstEnergy is installing a new reactor cap and buying replacement power until the plant is restarted. The plant, about 20 miles east of Toledo, has been shut down since Feb. 16.
Nuclear Regulatory Commission inspectors found violations of 10 federal regulations at Davis-Besse, where acid nearly ate through a 6-inch-thick steel reactor cap.
The leak discovered in March was the most extensive corrosion ever found on a U.S. nuclear reactor and led to a nationwide review of all 69 similar plants. A second, smaller hole was found later at Davis-Besse.
FirstEnergy said reactor head replacement costs were unchanged at $55 million to $75 million.
But other costs of restoring the plant to service, initially estimated at $50 million to $70 million, have increased because of additional work. The restoration costs are now expected to increase by about $65 million this year and $50 million in 2003, FirstEnergy said.
FirstEnergy shares fell 40 cents Monday to close at $29.21 on the New York Stock Exchange.
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