Entergy completes the sale of Pilgrim Station to Holtec

09 September 2019

Entergy Corporation (ETR) recently completed the sale of the subsidiary that owns the Pilgrim Nuclear Power Station to a Holtec International subsidiary, which plans to complete major decommissioning activities at the site.

Entergy and Holtec announced the Pilgrim sale agreement in August 2018, and the U.S. Nuclear Regulatory Commission approved the transfer of Pilgrim’s licenses to Holtec on Aug. 22, 2019. In its order, the NRC found that Holtec possesses the required technical and financial qualifications to own and decommission Pilgrim safely and in accordance with all NRC requirements.

For Entergy, the transaction will result in a pre-tax book charge to earnings in an amount expected to be consistent with its previous disclosures. The estimated charge will be recorded in the Q3 2019 and will be included in Entergy Wholesale Commodities as-reported earnings.

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