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Exelon Agrees To Acquire N.Y. Nuclear Power Plant
Exelon has agreed to assume ownership and management of operations of Entergy Corporation’s 838-megawatt James A. FitzPatrick Nuclear Power Plant in Scriba, NY, the companies announced today.
Under the agreement totaling $110 million, Entergy would transfer FitzPatrick’s operating license to Exelon. The New York Power Authority has agreed to transfer the decommissioning trust fund and liability for FitzPatrick to Entergy, and if regulatory approvals are obtained and the transaction closes, Entergy would then transfer the fund and associated liability to Exelon. Transaction closure is dependent upon regulatory review and approval by state and federal agencies, including the US Department of Justice, the Nuclear Regulatory Commission, the Federal Energy Regulatory Commission and the New York State Public Service Commission. The transaction is expected to close in the second quarter of 2017.
The transaction aligns with Entergy's strategy of reducing its merchant power market footprint.
Exelon operates two other nuclear energy facilities in upstate New York: R.E. Ginna and Nine Mile Point, the latter of which is adjacent to FitzPatrick.
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August 9, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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