WASHINGTON (dpa-AFX) - PPL Corp. (PPL) announced that a planned follow-up inspection of the Unit 1 main turbine at the company's Susquehanna nuclear power plant in northeastern Pennsylvania revealed indications of cracks in blades that are similar to, but less extensive than, damage discovered and repaired in 2011.
PPL said it will replace one row of blades on the Unit 1 turbine during the current refueling and maintenance outage, and has decided as a precaution to shut down the Unit 2 reactor and inspect its main turbine after the Unit 1 outage is completed.
The company noted that the Unit 2 outage will be scheduled after Unit 1 resumes generating electricity, he said. The turbine blade replacement on Unit 1 will have a minimal effect on the duration of the current outage, which began March 31 and is expected to continue into mid-May.
The financial impact to PPL Corporation from the additional turbine work at the Susquehanna plant, including energy sales margins and repair costs, is not expected to be material.
As part of the ongoing Unit 1 outage and the upcoming Unit 2 outage, PPL Susquehanna will install additional equipment that will, along with the analysis already conducted, be used to validate the suspected causes currently under engineering review, the company said.
PPL maintained its 2012 forecast of $2.15 to $2.45 per share in earnings from ongoing operations. Analysts polled by Thomson Reuters expect the company to report earnings of $2.33 per share for fiscal 2012. Analysts' estimates typically exclude special items.
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