Entergy to Buy Indian Point I and II From Consolidated Edison

BUCHANAN, NY-Entergy Corp. of New Orleans and Consolidated Edison Co. of New York Inc. report that they have reached a sales agreement whereby Entergy will buy Indian Point I and II nuclear power plants in a deal valued at $602 million. The sales price includes a provision that Entergy will buy approximately $100 million in nuclear fuel from Con Edison.

Entergy’s nuclear division is based in Jackson, MS and its Entergy Nuclear Northeast operation is headquartered in White Plains. The firm reported in September that it had leased 60,000 sf of space at 440 Hamilton Ave., in Downtown White Plains. Indian Point II and its associated gas turbines, which have a combined energy capacity of 1015 MWs, have not been in operation since February of this year after a rupture of a generator turbine line caused a leak. A Con Edison spokesman said the firm hopes to have the Indian Point II plant re-started by year’s end. Indian Point I has been shut down and in “safe storage” since the early 1970s, Con Edison officials note.

While the company reported that it won a bid for the Indian Point I and II nuclear power plants in a recent auction for Con Edison conducted by Morgan Stanley Dean Witter, the firm is nearing completion of its purchase of the Indian Point III nuclear power plant in Buchanan and the James A, Fitzpatrick plant in Oswego, NY from the New York Power Authority. That deal has been valued at $970 million.