Entergy to Buy Nuclear Power Plant for $380 Million - KAIT Jonesboro, AR - Region 8 News, weather, sports

New York

Entergy to Buy Nuclear Power Plant for $380 Million

JULY 12, 2006 - Posted at 3:34 p.m. CDT

 

NEW YORK - Entergy Corporation, an integrated utility that provides electricity in the South and Northeast, today said it will buy Consumers Energy's 798-megawatt Palisades Nuclear Power Plant near South Haven, Michigan, for $380 million.

New Orleans-based Entergy says the purchase price breaks down to $242 million for the plant, $83 million in nuclear fuel, and $55 million in related assets.

Entergy will also take on the Big Rock Point Independent Spent Fuel Storage Installation and receive $30 million for accepting responsibility for the decommissioned nuclear plant.

As part of the deal, the company will also sell all the Palisades plant's energy output back to Consumers Energy, the principal subsidiary of Jackson, Michigan-based CMS Energy, for 15 years.  The rate was not disclosed.

In addition, Entergy plans to offer employment to the plant's 500 active employees at their current wages for 18 months and continue their benefits for 36 months.

Subject to regulatory approval, the sale is expected to close in the first quarter of 2007.

Entergy provides electric service to customers in Arkansas, Louisiana, Mississippi and Texas.

(Copyright 2006 by The Associated Press.  All Rights Reserved.)

  • Region 8 News</span><a class="customMoreLink" href="/Global/category.asp?C=4391" target="_top">More >></a>Region 8 NewsMore>>

  • A Better Region 8: Journalism in schools

    A Better Region 8: Journalism in schools

    Thursday, June 21 2018 7:11 PM EDT2018-06-21 23:11:19 GMT
    Friday, June 22 2018 11:42 AM EDT2018-06-22 15:42:23 GMT
    A Better Region 8A Better Region 8

    Arkansas' public education system is good, really good. But it took a step back this past week when a joint legislative committee voted to remove journalism classes as a required elective in all Arkansas schools.

    Arkansas' public education system is good, really good. But it took a step back this past week when a joint legislative committee voted to remove journalism classes as a required elective in all Arkansas schools.

  • OH woman and minor killed, 4 injured in HWY 412 crash

    OH woman and minor killed, 4 injured in HWY 412 crash

    Thursday, June 21 2018 10:32 PM EDT2018-06-22 02:32:52 GMT
    Friday, June 22 2018 9:47 AM EDT2018-06-22 13:47:43 GMT
    Crash kills 2, injures 4 in Lawrence County (Source: KAIT)Crash kills 2, injures 4 in Lawrence County (Source: KAIT)

    An Ohio woman and a minor died in a Lawrence County crash Thursday night.

    An Ohio woman and a minor died in a Lawrence County crash Thursday night.

  • Kennett Police: Caruthersville, MO woman leaves children in vehicle, arrested

    Kennett Police: Caruthersville, MO woman leaves children in vehicle, arrested

    Friday, June 22 2018 9:24 AM EDT2018-06-22 13:24:35 GMT
    A Kennett woman was arrested on warrants and child endangerment (Source: KFVS)A Kennett woman was arrested on warrants and child endangerment (Source: KFVS)
    A Kennett woman was arrested on warrants and child endangerment (Source: KFVS)A Kennett woman was arrested on warrants and child endangerment (Source: KFVS)

    A Caruthersville, Missouri woman has been arrested after police in Kennett said she left three children unattended in a vehicle.

    A Caruthersville, Missouri woman has been arrested after police in Kennett said she left three children unattended in a vehicle.

Powered by Frankly