Entergy has agreed to sell the subsidiaries that own the Pilgrim Nuclear Power Station in Plymouth, Massachusetts, and the Palisades Power Plant in Covert, Michigan, after their shutdowns and reactor defuelings, to a Holtec International subsidiary for accelerated decommissioning.
Move to a pure play utility continues.
Entergy Corporation (NYSE: ETR) announced today that it intends to refuel the Pilgrim Nuclear Power Station in Plymouth, Mass., next year to continue supplying power to New England, then cease operations on May 31, 2019. The decision narrows the previously announced shutdown timeframe of 2017-2019.
Entergy Corporation (NYSE: ETR) announced today that it will close its Pilgrim Nuclear Power Station in Plymouth, Mass., no later than June 1, 2019, because of poor market conditions, reduced revenues and increased operational costs. The company notified the independent system operator of the electric grid, the ISO New England Inc. (ISO-NE), that as of that date, Pilgrim would not participate as a capacity resource in the market. The exact timing of the shutdown depends on several factors, including further discussion with ISO-NE, and will be decided in the first half of 2016.
Entergy's Pilgrim Nuclear Power Station has returned to full service, renewed after a $70 million investment to upgrade, replace, overhaul and inspect hundreds of pieces of equipment that make the plant safer today than when it was built.