New York

TexasTowelie

(117,552 posts) Thu Nov 17, 2016, 10:08 AM Nov 2016

State regulators poised to approve sale of nuclear plant

ALBANY (AP) — Utility regulators in New York state are poised to approve the sale of an upstate nuclear power plant as part of the state's effort to invest in nuclear power while expanding its use of renewable energy.

The Public Service Commission plans to vote Thursday on Entergy Corp.'s proposal to sell FitzPatrick Nuclear Power Plant in Oswego County to Exelon Corp for $110 million. Federal regulators also must approve the transfer.

FitzPatrick is one of three aging upstate nuclear plants that stand to receive a total of up to $7.6 billion in ratepayer subsidies over 12 years. Democratic Gov. Andrew Cuomo's administration proposed the subsidies to ensure that the plants remain open while the state transitions from fossil fuels to renewable sources such as wind and solar.

Many environmental groups support the subsidies, though some clean energy advocates, free market groups and anti-nuclear organizations are urging the commission to block the plan.

Read more: http://www.timesunion.com/news/article/State-regulators-poised-to-approve-sale-of-10620237.php

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State regulators poised to approve sale of nuclear plant (Original Post) TexasTowelie Nov 2016 OP

The deal was approved. TexasTowelie Nov 2016 #1

TexasTowelie

(117,552 posts)

1. The deal was approved.

Reply to TexasTowelie (Original post)

Thu Nov 17, 2016, 11:27 PM

Nov 2016

ALBANY - The $110 million sale of an Oswego County nuclear plant cleared one of its final regulatory hurdles Thursday when a key state board signaled its approval.

The state Public Service Commission on Thursday unanimously approved the sale of the James A. FitzPatrick Nuclear Power Plant from Entergy Corp. to the Exelon Generation Company, which would allow the aging nuclear facility to remain open and employ 600 workers.

Entergy, which owns the massive Indian Point nuclear plant in Westchester County, had previously announced plans to shutter the FitzPatrick facility.

But Exelon agreed to purchase it after the state approved a ratepayer-backed, multi-billion-dollar subsidy for upstate nuclear plants earlier this year.

Read more: http://www.timesledger.com/stories/2016/48/joecrowley_2016_11_25_q.html

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