Microsoft’s Three Mile Island Deal Isn’t a Nuclear Revival — Yet
BloombergWhen the Three Mile Island nuclear plant became famous in 1979 for a reactor accident, Microsoft Corp. was a baby, still a year away from a landmark deal with International Business Machines Corp. that would pave the way for the Windows revolution. So Microsoft’s latest landmark deal, to revive the plant’s other reactor to power its artificial-intelligence ambitions, positively drowns in symbolism. One is keeping open the existing fleet, much of which was built in the 1970s and 1980s and began suffering mostly cost-related shutdowns over the past decade. It has agreed to buy 20 years’ worth of output at a fixed price, providing Constellation Energy Corp., the owner, enough certainty to spend $1.6 billion to put the reactor in Pennsylvania, which closed for economic reasons in 2019, back into service by 2028.