18 November 2009-- Entergy Nuclear has requested more time to prepare for a planned corporate restructuring and the establishment of a spin-off company, Enexus Energy Corp.
Entergy Nuclear is still awaiting approvals from regulators in New York and Vermont. The New York Public Service Commission said it was worried that the $3.5 billion worth of long-term unsecured bonds that Entergy Nuclear planned to issue would bring down the company's bond rating. Regulators said they also were worried whether the company would be financially viable enough to operate three nuclear units in the state.
The Nuclear Regulatory Commission first approved the Enexus proposal in 2008, then granted a 6-month extension in May 2009, citing uncertainties in the financial markets and delays in getting approvals. The current extension is set to expire in January 2010.
Entergy Nuclear owns the 670 MW Pilgrim Station Nuclear Power Plant in Massachusetts as well as plants in New York, Vermont and Michigan.
Want more news? Subscribe to the FREE E-newsletter!
Related articles
Entergy delays nuclear spinoff
NRC approves Entergy Nuclear spinoff
Entergy Nuclear spinoff in "rolling readiness" mode