The U.S. Nuclear Regulatory Commission (NRC) has approved a request for a two percent ownership transfer of certain licenses for the South Texas Project nuclear facilities, Units 1 and 2, from Constellation South Texas, LLC to CPS Energy, which acts for the City of San Antonio, Texas. This decision was made following an application submitted in July 2024, which asked the NRC to allow this transfer. After the transfer, both Constellation South Texas and CPS Energy will own 42 percent of the facilities. The approval requires the applicants to inform the NRC of all necessary regulatory approvals before finalizing the transaction within one year.
Simple Explanation
The government said it's okay for one company to let another company, both of whom are like partners in running a big power plant, own a little more of it.