N-plant firm near bankruptcy
i NZPA-Reuter ' Johnstown (Pennsylvania) The company that owns the c ripped Three Mile Island nuclear power plant has announced that it will cut its work force by 5 per cent to stave off bankruptcy.
At a news conference before the company’s annual meeting, William Kuhns, chairman of the firm, General Public Utilities, told I reporters his company faced (insolvency unless it could I obtain a SUS4SOM bank credit and a rate increase i from Pennsylvania authorities in the next few weeks. A SUS47M rate increase granted to Metropolitan Edison, the G.P.U. subsidiary which runs Three Mile Island, was frozen after the accident at the plant which spewed radiation into the air.
Mr Kuhns said the company intended to eventually reopen the damaged reactor No. 2 at Three Mile Island, where the country’s worst nuclear accident occurred on March 28. He added that the Three Mile Island’s other reactor, undamaged because it was shut down at the time of the accident, would be reopened as soon as authorities agreed it was safe.
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Press, 11 May 1979, Page 6
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175N-plant firm near bankruptcy Press, 11 May 1979, Page 6
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