BUCHANAN, N.Y., May 28, 2021 /PRNewswire/ -- Entergy Corporation
(NYSE: ETR) today completed the sale of the subsidiaries that own
Indian Point Energy Center to a Holtec International subsidiary,
which plans to complete major decommissioning activities at the
site decades sooner than if Entergy had continued to own the
facility. The final operating unit at the site, Unit 3, was shut
down by Entergy on April 30, 2021,
after generating electricity safely and reliably for the last 45
years.
Indian Point Unit 1 was shut down in 1974. Indian Point Unit 2
was shut down in April 2020.
Entergy and Holtec announced the Indian Point sale in
April 2019. The U.S. Nuclear
Regulatory Commission approved the transfer of Indian Point's
licenses to Holtec in November 2020
and the New York State Public
Service Commission approved the transfer on May 19, 2021. The agencies found that Holtec
possesses the required technical and financial qualifications to
own and decommission Indian Point safely and in accordance with
regulatory requirements.
"We thank all our employees at Indian Point for operating a
safe, secure and reliable plant for more than 20 years under
Entergy's ownership, and we look forward to many of them continuing
on with Entergy at new locations," said Entergy chairman and CEO
Leo Denault. "With our previously
announced agreement for the post-shutdown sale of Palisades nuclear
power plant in 2022, we remain on track to complete our exit from
nuclear power operations in merchant markets."
"Protecting public health and safety and the environment is the
foundation upon which the Indian Point decommissioning program will
be carried out," said Holtec's president and CEO Dr. Kris Singh. "The cutting-edge technologies that
we have employed at Pilgrim and Oyster Creek to ensure maximum
worker and environmental safety and wellbeing of the local
communities will be employed at Indian Point to secure the same
excellent outcomes that we continue to achieve at other plants
in our fleet. We are committed to a continuous engagement with the
stakeholders at the local and state levels to ensure a smooth
dissemination of information at all times."
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged in
electric power production, transmission and retail distribution
operations. Entergy delivers electricity to 3 million utility
customers in Arkansas,
Louisiana, Mississippi and Texas. Entergy owns and operates one of the
cleanest large-scale U.S. power generating fleets with
approximately 30,000 megawatts of electric generating capacity,
including 7,000 megawatts of nuclear power. Headquartered in
New Orleans, Louisiana, Entergy
has annual revenues of $10 billion
and more than 13,000 employees. Learn more at entergy.com and
follow @Entergy on social media.
Entergy owns and operates five nuclear power units in its
regulated utility business, and is committed to the continued
operation of its nuclear fleet in those locations. Its nuclear
power plants in those markets are located in Louisiana, Arkansas and Mississippi, and have more than 5,000
megawatts of clean, reliable, and economic electricity generating
capacity for customers in those regions.
Entergy currently owns one remaining merchant nuclear power
plant, Palisades Power Plant, in Michigan, which is scheduled to permanently
shut down in the spring 2022. Entergy previously
announced plans to sell Palisades to Holtec International for
decommissioning following its shutdown.
About Holtec International
Holtec International is a privately held technology company with
operation centers in Florida,
New Jersey, Ohio, and Pennsylvania in the U.S., and globally in
Brazil, Canada, India, Japan,
Mexico, South Africa, Spain, U.K., and Ukraine. Since the 1980s, Holtec has played a
preeminent role in the industry by expanding the wet spent fuel
storage capacity at over 110 reactor units worldwide. Over 130
global nuclear units rely on Holtec's technology for spent fuel
storage and transportation. Holtec develops and implements
innovative solutions to overcome technical challenges faced by its
clients around the world. HI-STORE, the world's first below-ground
Consolidated Interim Storage Facility, is currently undergoing
licensing for deployment in New
Mexico. Holtec's SMR-160, a 160-Megawatt small modular
reactor, will provide safe, secure, dependable, affordable, and
carbon-free power even in the world's most arid regions. Holtec is
also dedicated to the safe and efficient decommissioning of
shuttered nuclear plants. Holtec's approach to decommissioning is
to begin and complete the physical work of decontamination and
dismantlement decades sooner than if the current nuclear plant
owner retains ownership of the plant. As a major supplier of
special-purpose pressure vessels and critical-service heat exchange
equipment, Holtec provides air-cooled condensers, steam generators,
feedwater heaters, and water-cooled condensers. As a fully
integrated supplier, Holtec possesses in-house capabilities to
design, engineer, analyze, license, fabricate and construct these
technologies.
Cautionary Note Regarding Forward-Looking Statements
In this news release, and from time to time, Entergy Corporation
makes certain "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include, among other things, Entergy's
plans and expectations with respect to its planned exit from the
merchant nuclear power business, and other statements of Entergy's
plans, beliefs, or expectations included in this news release.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which apply only as of the date of this
news release. Except to the extent required by the federal
securities laws, Entergy undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
Forward-looking statements are subject to a number of risks,
uncertainties, and other factors that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements, including (a) those factors discussed
elsewhere in this news release and in Entergy's most recent Annual
Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q,
and Entergy's other reports and filings made under the Securities
Exchange Act of 1934; (b) uncertainties associated with (1) rate
proceedings, formula rate plans, and other cost recovery
mechanisms, including the risk that costs may not be recoverable to
the extent anticipated by the utilities and (2) implementation of
the ratemaking effects of changes in law; (c) uncertainties
associated with efforts to remediate the effects of major storms
and recover related restoration costs; (d) risks associated with
operating nuclear facilities, including plant relicensing,
operating, and regulatory costs and risks; (e) changes in
decommissioning trust fund values or earnings or in the timing or
cost of decommissioning Entergy's nuclear plant sites; (f)
legislative and regulatory actions and risks and uncertainties
associated with claims or litigation by or against Entergy and its
subsidiaries; (g) risks and uncertainties associated with executing
on business strategies, including strategic transactions that
Entergy or its subsidiaries may undertake and the risk that any
such transaction may not be completed as and when expected and the
risk that the anticipated benefits of the transaction may not be
realized; (h) effects of changes in federal, state, or local laws
and regulations and other governmental actions or policies,
including changes in monetary, fiscal, tax, environmental, or
energy policies; (i) the effects of changes in commodity markets,
capital markets, or economic conditions; (j) impacts from a
terrorist attack, cybersecurity threats, data security breaches, or
other attempts to disrupt Entergy's business or operations, and/or
other catastrophic events; (k) the direct and indirect impacts of
the COVID-19 pandemic on Entergy and its customers; and (l) the
effects of technological change, including the costs, pace of
development and commercialization of new and emerging
technologies.
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SOURCE Entergy Corporation