Exelon In Talks To Acquire NY Nuclear Plant

Entergy Corporation announced today that it is in discussions with Exelon Corporation for the potential sale of Entergy's James A. FitzPatrick Nuclear Power Plant in Scriba, NY.

"The discussions with Exelon are consistent with Entergy's commitment to consider any viable option that would allow FitzPatrick to remain in operation. Entergy announced in November 2015 that it planned to shut down and decommission the FitzPatrick plant, later setting the timing to cease operations as late January 2017," Entergy said

"In keeping with our corporate strategy to move away from merchant power markets and toward a company operating exclusively as a utility in regulated markets, we are working with Exelon to come to commercial terms on a sale transaction that depends largely on the final terms and timeliness of the New York State Clean Energy Standard," said Entergy Wholesale Commodities President Bill Mohl.

In addition to the "Clean Energy Standard," any transaction between Entergy and Exelon would be subject to completion of definitive commercial agreements, as well as regulatory approvals.

If discussions between Entergy and Exelon do not result in an agreement for the sale and transfer of ownership of FitzPatrick, Entergy will move forward with its current plan to cease operations, followed by decommissioning.

Negotiations with Exelon are ongoing, with a target for completion in mid-August, therefore Entergy said it cannot yet describe the material terms of any definitive agreement that it may enter into with Exelon.