BANKRUPTCY: Buried Under a Nuclear Pile

Buried Under a Nuclear Pile

The Seabrook, N.H., nuclear power plant took eleven years to build, cost $4.5 billion in excess of its original $1 billion price and has yet to churn out a single kilowatt. The plant has generated only trouble so far, which it produced in abundance last week. Public Service of New Hampshire, owner of the largest single stake in Seabrook, a 35.6% share, filed for Chapter 11 bankruptcy, becoming the first major investor-owned utility to do so since the Depression. Though Seabrook was ready to run by the fall of 1986, its start-up has been delayed by political and public opposition. The...

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