07:08 AM EDT, 07/03/2024 (MT Newswires) -- Constellation Energy ( CEG ) is in discussions with Pennsylvania officials to help fund a potential revival of part of its Three Mile Island power facility, where a nuclear meltdown occurred in the 1970s, Reuters reported late Tuesday, citing three sources familiar with the discussions.

The discussions indicate that Constellation is advancing plans to revive part of the southern Pennsylvania nuclear generation site, which operated from 1974 to 2019, the report said. The unit under consideration for restart is distinct from the one involved in the meltdown, the report added.

A shut Michigan nuclear plant, recently awarded a $1.5 billion conditional loan to restart by the US administration, could serve as a private-public sector blueprint for Three Mile Island, Reuters reported.

"Though we have determined it would be technically feasible to restart the unit, we have not made any decision on a restart as there are many economic, commercial, operational and regulatory considerations remaining," Reuters quoted Constellation spokesperson Dave Snyder as saying in an email.

Constellation did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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