Entergy Seeks Control of Indian Point Decommissioning Fund

CORTLANDT, NY — Entergy has submitted a license amendment request to the Nuclear Regulatory Commission seeking the transfer of the decommissioning trust funds for the Indian Point 3 and James A. FitzPatrick nuclear power plants to its control from the New York Power Authority.

Even though the plants were sold to Entergy in 2000, the Power Authority maintained ownership of the respective decommissioning trust funds for the facilities under an agreement, said NRC spokesman Neil Sheehan.

NRC approval is needed for the change. Entergy is seeking approval by Dec. 31.

As of Dec. 31, 2015, the Indian Point 3 decommissioning trust fund contained about $683 million, which was above the NRC-required minimum (as of that point) of about $521 million, Sheehan said.

With respect to the FitzPatrick plant, Exelon has reached a tentative deal with Entergy to acquire the upstate New York facility. If that purchase goes through, Exelon would presumably take control of the FitzPatrick decommissioning trust fund.

As is the case now, the decommissioning funds will be held by the Bank of New York Mellon and cannot be accessed without NRC approval, Sheehan said.

PHOTO: Indian Point nuclear facility/Entergy