Entergy, Holtec and Other Parties File Joint Proposal with NYS Public Service Commission Requesting Approval of Post-Shutdown Transfer of Indian Point

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Apr 14, 2021, 18:42 ET

BUCHANAN, N.Y., April 14, 2021 /PRNewswire/ -- Subsidiaries of Entergy Corporation and Holtec International, along with the New York State Department of Public Service Staff, the New York State Office of the Attorney General, the New York State Department of Environmental Conservation, the New York State Energy Research and Development Authority, the New York State Division of Homeland Security and Emergency Services, Westchester County, Hendrick Hudson School District, Town of Cortlandt, Village of Buchanan, Riverkeeper, Inc., and the Public Utility Law Project of New York, Inc, today filed a Joint Proposal with the New York Public Service Commission, which reflects a comprehensive settlement of the issues raised in the proceeding concerning the proposed post-shutdown transfer of Indian Point to subsidiaries of Holtec for decommissioning. The parties to the Joint Proposal recommend that the PSC adopt the proposal and approve the post-shutdown transfer of Indian Point from Entergy to Holtec.

Entergy and Holtec have requested a decision on the Joint Proposal in May.

Entergy and Holtec previously filed a petition with the New York PSC concerning the proposed transfer of Indian Point and a license transfer application with the U.S. Nuclear Regulatory Commission in November 2019. The NRC approved the license transfer in November 2020.

Among other issues, the Joint Proposal resolves issues of financial assurance, site restoration, financial reporting, continued funding for state and local emergency management and response activities, a memorandum of understanding with local taxing jurisdictions concerning property taxes, and the dismissal of the D.C. Circuit litigation relating to Indian Point transfers by the State and local entities who are parties to the litigation and signed the Joint Proposal.

"The difficult but necessary decision we made four years ago to shut down the safely and securely operated Indian Point Energy Center was hardest on our dedicated and professional employees," said Leo Denault, Entergy's Chairman and Chief Executive Officer. "I want to thank the team at Indian Point for their service and for finishing strong."

"We are pleased to have reached a comprehensive and equitable agreement relative to the prompt decommissioning of Indian Point with the many stakeholders who were involved in the process," added Denault.

The sale of Indian Point following its permanent shutdown will benefit the community by enabling the facility to be removed and the site remediated decades sooner than otherwise thought possible.

Indian Point Unit 2 shut down on April 30, 2020. Indian Point Unit 3 will shut down by April 30, 2021.

"Holtec is pleased to have found common ground and reached consensus with the State of New York, and the interested parties, on a Joint Petition that supports the prompt, safe, and efficient decommissioning of Indian Point," said Holtec's President and Chief Executive Officer, Dr. Kris Singh. "Our commitment to be a good neighbor and shared goal of protecting the health and safety of the public and the environment, were key to reaching agreement on a number of issues. This joint proposal provides for additional financial assurance, oversight as well as environmental protections that serve to mitigate risk and protect the interests of the local communities and citizens of New York."

Holtec, with experience performing prompt decommissioning at other sites, plans to begin the decommissioning process at Indian Point promptly upon taking ownership and expects to release most of the site for re-use by the 2030s, as much as 40 years sooner than if Entergy continued to own the facility. As part of the agreement between the companies, Holtec will initially provide job opportunities for over 300 of Entergy's current employees at Indian Point and it also has agreed to honor the collective bargaining agreements that apply to current employees.

Background Information

Entergy Corporation (NYSE: ETR) is an integrated energy company engaged in electric power production, transmission, and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and more than 13,000 employees. Learn more at entergy.com and follow @Entergy on social media.

Holtec International is a privately held technology company with operation centers in Florida, New Jersey, Ohio, and Pennsylvania in the U.S., and globally in Brazil, Canada, India, Japan, Mexico, South Africa, Spain, U.K., and Ukraine. Since the 1980s, Holtec has played a preeminent role in the industry by expanding the wet spent fuel storage capacity at over 110 reactor units worldwide. Over 130 global nuclear units rely on Holtec's technology for spent fuel storage and transportation. Holtec develops and implements innovative solutions to overcome technical challenges faced by its clients around the world. HI-STORE, the world's first below-ground Consolidated Interim Storage Facility, is currently undergoing licensing for deployment in New Mexico. Holtec's SMR-160, a 160-Megawatt small modular reactor, will provide safe, secure, dependable, affordable, and carbon-free power even in the world's most arid regions. Holtec is also dedicated to the safe and efficient decommissioning of shuttered nuclear plants. Holtec's approach to decommissioning is to begin and complete the physical work of decontamination and dismantlement decades sooner than if the current nuclear plant owner retains ownership of the plant. As a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment, Holtec provides air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. As a fully integrated supplier, Holtec possesses in-house capabilities to design, engineer, analyze, license, fabricate and construct these technologies.