Nuclear, Reactors

NRC gives Indian Point 2 temporary approval

Entergy Corp. (NYSE: ETR) has received a formal notice from the U.S. Nuclear Regulator Commission that it can continue operating Indian Point Unit 2 under the existing while the license renewal process is ongoing.

Since purchasing the plants, the company has invested more than $1 billion upgrading and enhancing the facility and preparing the plants for continued operation during the 20-year period of a renewed operating license.

Entergy purchased unit 3 from the New York Power Authority in 2000 and Unit 2 from ConEd (NYSE: ED) in 2001. Unit 3 will enter its Period of Extended Operations in December 2015.

Indian Point generates about 25 percent of the power used in New York City and Westchester County.

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