EnergySolutions, the company dismantling Exelon’s Zion nuclear plant, is struggling financially just as it nears the riskiest phase of the project — moving the nuclear fuel into storage casks.
Last month, the company suddenly replaced its chief executive and chief financial officer for the second time in two years, causing its stock to plunge 55 percent and its credit ratings to fall two notches amid a weak earnings forecast. In March, EnergySolutions revealed that it underestimated by about $100 million the cost to dismantle Zion piece by piece, and ship the material to Utah for disposal.
Company dismantling Zion nuclear plant under financial stress
