Exelon Loses Tax Suit Claiming $1.69 Billion in Costs
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Exelon Corp., the biggest U.S. nuclear operator, can’t use as much as $1.69 billion of claimed liabilities associated with decommissioning three nuclear power plants to generate tax benefits, a federal court ruled.
The U.S. Court of Federal Claims in Washington today barred the power generator from factoring decommissioning costs into the tax basis of plants it bought in 1999 and 2000 because they’re still operating.