Three Mile Island Alert, Inc.

Contact: (717)-541-1101
                   Eric J. Epstein

April 29, 2008


Statement of Three Mile Island Alert*
Re: “Economic and System Reliability Benefits of the Three Mile Island Generating Station”  

(Harrisburg, Pa) - Three Mile Island Alert, Inc. (“TMIA”) critiqued a economic report commissioned by the owners and operators of Three Mile Island. (“TMI”) Eric Epstein, Chairman of TMIA stated: “TMI has actually had a declining impact on the local economy since Exelon purchased the plant.”  Epstein noted: 
  * TMI’s “fair market value” according to Exelon is $5 million, and the Company successfully sued Dauphin County to reduce
the amount of taxes it pays by $360,016 a year
. GPU Nuclear’s annual tax contribution was $506,956 while Exelon pays $146,940 per year.


  * Prior to the sale of TMI-1, GPU Nuclear employed 804 full-time employees. As of July 2, 2006, Exelon's staffing numbers were listed at 520; TMI now says the number of employees is closer to 60o. Either way, the community has lost at least 204 full-time tax payers since Exelon rolled into to town.

Mr. Epstein added, “This Report does not factor the $5.5 billion in “stranded nuclear costs” recovered by Exelon through a ratepayer tax known as the Competitive Transition Cost or  the projected $1 billion dollar price tag for the decommissioning and decontamination of Three Mile Island Unit-1. The Report also ignores subsidized insurance rates, rad waste storage fees, and billions of gallons of virtually free water underwritten by area residents  and taxpayers.”


Epstein concluded, “To make matters worse, local residents are still paying for the meltdown at TMI-2. On September 20, 1995, the Pennsylvania Supreme Court reversed a lower court’s decision, and sided with GPU in allowing the Company to charge rate payers for the TMI-2 accident. The decision ignored the financial facts of the case: TMI-2 was built at a cost to rate payers of $700 million and had been on line for 90 days, or 1/120 of its planned operating lifetime, when the March 1979 accident began. One billion was been spent to defuel the plant, which now lays in idle shutdown, i.e., Post-Defueling Monitored Storage.”
* Three Mile Island Alert, Inc. is a safe-energy organization based in Harrisburg, Pennsylvania and founded in 1977. TMIA monitors Peach Bottom, Susquehanna, and Three Mile Island nuclear generating stations.