Nebraska utility closes smallest nuclear plant
The Omaha Public Power District voted Thursday to shutter by the end of the year the Fort Calhoun Nuclear Station, the nation’s smallest nuclear power plant.
“The industry is changing, and it is imperative that we make strategic decisions to better position the district in the future for all our 365,000 customer-owners,” said Mick Mines, the board’s chairman.
Among factors cited were the low price of natural gas, which makes it a cheaper way to generate electricity, and a federal energy plan that doesn’t offer carbon-free generation credit for existing nuclear plants.
The utility said as a result of the closure, it doesn’t expect a general rate increase in the next five years, through 2021.
But the vote was blasted by Nuclear Energy Institute CEO Marvin Fertel who said it will take about one-quarter of the state’s clean electricity off the grid.
Mortgage rates near 1-year low
Long-term U.S. mortgage rates fell this week for a second straight week. The average rates touched their lowest points in 52 weeks.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.54 percent from 3.60 percent last week.
The average rate on 15-year fixed-rate mortgages declined to 2.81 percent from 2.87 percent.
Revlon buying Elizabeth Arden
Revlon Inc. is buying Elizabeth Arden Inc. for about $419.3 million in cash.
The New York company is offering to buy Elizabeth Arden shares for $14 each, a premium of 50 percent. The companies value the deal at $870 million including debt.
Jobless claims up
The number of people seeking U.S. unemployment benefits rose last week, but to a low level that indicates employers are still cutting relatively few jobs.
Weekly applications rose 13,000 to a seasonally adjusted 277,000, the highest in four weeks. The less volatile four-week average declined slightly to 269,250.