Feds OK Transfer of $684M Indian Point Fund to Entergy

PEEKSKILL, NY — The U.S. Nuclear Regulatory Commission has approved the transfer of the decommissioning trust funds for the James A. FitzPatrick and Indian Point 3 nuclear power plants from the New York Power Authority to Entergy.

When Entergy updated us last March on the status of the decommissioning funds, the fund for FitzPatrick held $746.19 million as of Dec. 31, 2015. The Indian Point 3 fund held $683.84 million as of Dec. 31, 2015, said spokesman Neil Sheehan.

Background:

On Nov. 9, 2000, the NRC approved the transfers of the FitzPatrick and Indian Point 3 plant operating licenses from the NYPA to Entergy. However, the decommissioning trust funds for the plants were not transferred at that time and remained in the hands of the state agency.

On Aug. 16, 2016, Entergy requested that the NRC approve the transfer of the decommissioning trust funds, in preparation for the proposed sale of FitzPatrick from Entergy to Exelon. The decommissioning fund master trust agreement has to be in the name of the current owner/operator in order to be successfully transferred to the proposed new owner.

SEE: Entergy Seeks Control of Indian Point Decommissioning Fund