Entergy nuclear spin-off plan meets opposition in N.Y., but PSC staff favors it, with conditions

摘要

Many New York groups told the state Public Service Commission last week that Entergy's plan to spin off its six nuclear plants to an independent company is risky and does not benefit New York customers. But the PSC's staff said the spinoff could be acceptable if Entergy provided more financial guarantees. Seven of Entergy's non-utility nuclear reactors are in three plants in New York. The spinoff, to an independent company to be called Enexus Energy, has been approved by the Nuclear Regulatory Commission but still needs nods from the Securities and Exchange Commission and regulatory commissions in New York and Vermont. "Enexus will be more risky than Entergy, and its new support agreements are insufficient to offset those risks," the New York PSC staff wrote in its comments to commissioners. "This increases the likelihood that the New York nuclear plants will not be able to adequately perform their baseload function if financial difficulties are encountered."