Entergy Agrees To Post-Shutdown Sale Of Pilgrim, Palisades Nuclear Power Plants

(RTTNews) - Entergy Corp. (ETR) announced it has agreed to sell the subsidiaries that own the Pilgrim Nuclear Power Station in Plymouth, Massachusetts, and the Palisades Power Plant in Covert, Michigan, after their shutdowns and reactor defuelings, to a Holtec International subsidiary for accelerated decommissioning. The sales include the transfer of the licenses, spent fuel, and Nuclear Decommissioning Trusts, as well as the site of the decommissioned Big Rock Point Nuclear Power Plant near Charlevoix, Michigan. Also, Entergy is seeking regulatory approvals to sell its subsidiary that owns the shutdown Vermont Yankee site by the end of the current year.

As consideration for its transfer to Holtec of its interest in Entergy Nuclear Generation Company and Entergy Nuclear Palisades, LLC, Entergy will receive nominal cash consideration.

The company affirmed its expectation for Entergy Wholesale Commodities to provide positive net cash to parent through 2022.