Fire Up The NUKES - Point Beach nuclear plant sale completed

We Energies said it has completed the sale of the Point Beach nuclear plant, the utility said today. The utility, a subsidiary of Wisconsin Energy Corp said the plant was sold for $924 million, and the utility also received $482 million in plant decommissioning funds as part of the transaction. Adjustments at closing mean the deal will result in $882 million in proceeds, or about $57 million more than the utility had first projected. The proceeds from the sale are planned to be used to offset a portion of the $652 million price increase the utility has requested for 2008 and 2009.