Entergy in Talks with Exelon to Sell FitzPatrick Nuclear Plant

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Entergy Corporation announced today it is in discussions with Exelon Corporation for the potential sale of the James A. FitzPatrick Nuclear Power Plant in Scriba, NY. The discussions with Exelon are consistent with Entergy’s commitment to consider any viable option that would allow FitzPatrick to remain in operation.

Entergy announced in November 2015 it planned to shut down and decommission the FitzPatrick plant, later deciding to cease operations in late January 2017. 

“In keeping with our corporate strategy to move away from merchant power markets and toward a company operating exclusively as a utility in regulated markets, we are working with Exelon to come to commercial terms on a sale transaction that depends largely on the final terms and timeliness of the New York State Clean Energy Standard,” said Entergy Wholesale Commodities President Bill Mohl.

In addition to the Clean Energy Standard, any transaction between Entergy and Exelon would be subject to completion of definitive commercial agreements, as well as regulatory approvals.

If discussions between Entergy and Exelon do not result in an agreement for the sale and transfer of ownership of FitzPatrick, Entergy will move forward with its current plan to cease operations, followed by decommissioning.

“Our focus remains on providing employees and the community the best opportunity we can to prepare for either a transition to a new owner or a shutdown and decommissioning,” said Brian Sullivan, site vice president and Entergy’s top official at FitzPatrick.

Entergy’s discussions with Exelon provide the opportunity for a potentially different outcome for FitzPatrick, and therefore require the plant to proceed along two parallel paths: preparing for the plant’s permanent shutdown and decommissioning under the current plan, while also preparing for a possible refueling and continued operation in the event of a sale.

Negotiations with Exelon are planned to be complete by mid-August.

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