NRC approves Entergy nuclear spinoff

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07/28/2008

28 July 2008 -- The Nuclear Regulatory Commission staff has approved the transfer of operating licenses for the FitzPatrick, Indian Point Units 2 and 3, Palisades, Pilgrim and Vermont Yankee nuclear power plants from Entergy Corp. to Enexus Energy Corp. The transfer also covers the licenses for the permanently shut down Indian Point Unit 1 and the independent spent fuel storage installation at Big Rock Point. The staff's approval is effective July 28.

Entergy Nuclear Operations submitted an application on July 30, 2007, requesting approval of the license transfers. An Entergy Corp. restructuring will create a new independent corporation, Enexus Energy, which will own the individual licenses via holding companies. Entergy and Enexus will jointly own the company operating the facilities, Entergy Nuclear Operations, which will become EquaGen Nuclear LLC.

Matters considered by the NRC included financial and technical qualifications, as well as maintenance of accumulated decommissioning funds. Entergy also needs additional federal and state approvals before the company can complete the proposed transaction.

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