Entergy’s Indian Point Unit 2 to Shut Down Permanently
Unit 3 to shut down as planned in 2021
BUCHANAN, N.Y. -- Control room operators at Entergy Corp.’s (NYSE: ETR) Indian Point Unit 2 will shut down the reactor Thursday as scheduled for the final time, after more than 45 years of producing clean, safe and reliable power for New York. The other operating unit at the site, Unit 3, is scheduled to permanently shut down by April 30, 2021.
“Over the last 45 years, thousands of dedicated professionals have operated Unit 2 at Indian Point - safely, securely and reliably,” said Chris Bakken, Entergy’s Chief Nuclear Officer. “We owe each of them our thanks for a job well done and for their commitment to the highest standards of professionalism.”
Announced in 2017, the shutdown of both operating units at Indian Point is pursuant to a settlement agreement with the State of New York and was the result of a number of factors, including sustained low current and projected wholesale energy prices that reduced revenues.
As part of its commitment to employees at Indian Point, the company has previously announced a plan to find a position within Entergy for those qualified employees who are willing to relocate. Currently, more than 40 employees from Indian Point have accepted offers to continue with Entergy in other locations.
Unit 2 began commercial operations on Aug. 1, 1974 and was purchased by Entergy in 2001.
In April 2019, Entergy announced the proposed post-shutdown sale of the subsidiaries that own Unit 1, Unit 2 and Unit 3 to a Holtec International subsidiary. Holtec and its team plan to initiate decommissioning at Indian Point promptly following regulatory approvals and transaction close in 2021, and it expects to release portions of the site for re-use nearly 40 years sooner than if Entergy continued to own the facility.
Holtec, through its affiliate Comprehensive Decommissioning International, will hire Entergy’s employees at Indian Point who have been selected for “Phase 1” of decommissioning.
Entergy owns and operates five nuclear power units in its regulated utility business, and is committed to the continued operation of its nuclear fleet in those locations. Its nuclear power plants in those markets are located in Louisiana, Arkansas and Mississippi, and have more than 5,000 megawatts of clean, reliable, and economic electricity generating capacity for customers in those regions.
About Entergy Corporation
Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees.