Entergy, Holtec file for license transfer of closing Indian Point nuclear units

Affiliates of Entergy Corp. and Holtec International have jointly filed an application asking to transfer the Nuclear Regulatory Commission license for the Indian Point Energy Center in New York.

Earlier this year, New Orleans-based Entergy sold its ownership of Indian Point units 1-3 to a subsidiary of Holtec. The last of Indian Point’s nuclear reactors is due to permanently shut down on April 30, 2021.

Holtec plans to initiate decommissioning at Indian Point, following regulatory approvals and transaction close, as much as 40 years sooner than if Entergy continued to own the units.

“Holtec’s plan to accelerate the decommissioning schedule provides the potential for site redevelopment decades sooner than if Entergy continued to own the facility, which is good news for the local community,” said Chris Bakken, Entergy executive vice president nuclear operations and chief nuclear officer. “Holtec plans to begin the decommissioning process promptly upon taking ownership, and as part of the agreement between the companies, will provide job opportunities for more than 300 of our current employees who want to remain in the region and continue to work at the site.”

The companies asked the NRC to approve the License Transfer Application by November 2020 to facilitate a timely transaction closing targeted for May 2021, which will benefit the community, employees and other interested stakeholders.

“This key regulatory filing is an important first step to beginning a new future for Indian Point and the local community,” said Holtec’s President and Chief Executive Officer Dr. Kris Singh. “By beginning decommissioning earlier, Holtec will be able to maintain and create new jobs and work towards releasing the plant site earlier so it can be repurposed and generate replacement tax revenue on an earlier schedule.”

Entergy agreed to close the plants in a deal with New York Gov. Andrew Cuomo’s office two years ago. Indian Point’s origins date back to the 1950s when construction began. Units 1-3 commenced commercial operation in a 14-year period from 1962 to 1974, and Unit 1 was shut down as Unit 3 was beginning its power generation.

Entergy has now sold all of its nuclear capacity in the U.S. competitive markets. It still owns and operates several reactor units in Louisiana and Arkansas.

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