Entergy to operate Palisades PP until spring 2022

10 October 2017

Entergy Corporation has announced that it plans to operate Palisades Power Plant in Covert, Michigan, until the spring of 2022, under the existing Power Purchase Agreement (PPA) with Consumers Energy.

This announcement reverses Entergy’s December 2016 decision to close Palisades on October 1, 2018, but Entergy remains committed to its strategy of exiting the merchant nuclear power business.

Charlie Arnone, site vice president and Entergy’s top official at Palisades said, “In light of the Michigan Public Service Commission’s order issued September 22, which granted Consumers Energy recovery of only $136.6 million of the $172 million it requested for the buyout of the PPA, the parties have agreed to terminate the buyout transaction.”

According to Arnone, Entergy will continue to make all necessary investments and maintain appropriate staffing, in accordance with strict licensing standards.

The impact of the decision on free cash flow is expected to be positive $100 million to $150 million compared to the PPA amendment with Consumers Energy.

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