The country's oldest nuclear power plant is being sold to a company that will decommission it in the next eight years, decades earlier than required by industry protocols.
Exelon Generation announced Tuesday that Holtec International has agreed to purchase the Oyster Creek Generating Station in southern New Jersey.
Holtec was formed in New Jersey and now has its headquarters in Jupiter, Florida.
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The company will contract with Camden, New Jersey-based Comprehensive Decommissioning International to decommission Oyster Creek within eight years, more than 50 years ahead of the industry-allowed 60-year timeline.
Oyster Creek is scheduled to shut down in September. It went online in December, 1969, the same day as the Nine Mile Point Nuclear Generating Station near Oswego, New York. But Oyster Creek's original license was granted first.