Feds OK Entergy plan to spin off its nuclear plants

Posted: 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.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."