Feds OK Entergy plan to spin off its nuclear plantsPosted: Updated:
The federal Nuclear Regulatory Commission has given Entergy the green light to spin off five nuclear plants into a new company, angering some New York officials.
The plants include the Indian Point and Fitzpatrick plants in New York as well as plants in Vermont, Massachusetts and Michigan.New York Attorney General Andrew Cuomo is questioning whether the shift will allow Entergy to get out of paying the state up to $72 million each year.
"We think they may leave New Yorkers with the bill," Cuomo said during a live interview with News 12. "New York ? allowed Entergy to operate the plant and Entergy agreed to pay the state of New York. Entergy can't now sell the plant and say, 'Oh, by the way, our agreement is now over.'"The Nuclear Regulatory Commission rejected critics' contentions that the new firm, called Enexus Energy, will be saddled with too much debt to pay for any needed fixes at the plants or for their eventual decommissioning.The spin-off still requires the approval of New York's Public Service Commission, the other states' regulatory bodies and the U.S. Securities and Exchange Commission.
Click here for Cuomo's full interview.