Work
to replace the nuclear reactor head at FirstEnergy Corp.s
Davis-Besse powerplant could cost up to $405 million--and
will reduce 2002 earnings by some $155 million--the Akron,
Ohio-based utility said. The lengthening of downtime at Davis-Besse
related to head replacement due to severe boric acid corrosion,
now slated to end in early 2003, allows FirstEnergy to add
some $27 million in maintenance projects formerly slated for
future planned outages. We have to check all other systems
which may have been affected by the leak, and some weve
determined can be replaced now, says FirstEnergy spokesman
Ralph DiNicola. Head replacement will cost between $55 million
and $75 million, most of which will be capitalized. Substitute
power for the loss of Davis-Besses 925-Mw capacity will
cost between $110 million and $145 million. Operation and
maintenance expenses now are pegged at between $115 million
and $135 million in 2002, and $50 million in 2003, up from
$50 million to $70 million.
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