Entergy Corporation (NYSE: ETR) has received the Nuclear Regulatory Commission’s formal notice that, while the license renewal process is ongoing, it can continue operating Indian Point unit 2 under its existing NRC license.
Since purchasing the nuclear power plants, the company has invested more than $1 billion upgrading and enhancing the facility and preparing the plants for continued safe operation during the 20-year period of a renewed operating license.
Through the period of extended operations, Entergy will be operating unit 2 in accordance with NRC requirements and commitments made in the license renewal proceedings, a process initiated by the company in April 2007 when it filed its application for license renewal. As it always does, the NRC will provide continuous oversight through this period, and has performed many thousands of hours of inspections and reviews beforehand specifically to ensure appropriate safety preparations were made for this period.
NRC staff has previously recommended that the licenses for the two operating units at Indian Point be renewed for an additional 20 years of operation, noting the plants can be operated safely and that there are no environmental impacts that would preclude license renewal.
Additionally, while not part of the license renewal review process, Indian Point’s security program is regularly inspected by the NRC through established oversight programs. Entergy has invested more than $100 million at IPEC since 9/11 to strengthen security, and its security program meets all NRC performance review and inspection criteria.
Entergy purchased unit 3 from the New York Power Authority in 2000 and unit 2 from Con Ed in 2001. Unit 3 will enter its Period of Extended Operations in December 2015.
Indian Point provides critically needed and economical electricity in an environmentally beneficial way, generating about 25% of the power used in New York City and Westchester County.