NRC Issues Renewed Operating Licenses for Indian Point, Plant Still Expected to Close in 2020-2021

NRC Issues Renewed Operating Licenses for Indian Point, Plant Still Expected to Close in 2020-2021

September 17, 2018

BUCHANAN, N.Y. – The two operating units at Indian Point Energy Center, Unit 2 and Unit 3, received their renewed operating licenses today from the U.S. Nuclear Regulatory Commission (NRC), ending more than 11 years of regulatory review. Plant owner Entergy (NYSE: ETR) had applied for the licenses in April 2007.

“The issuance of these renewed licenses is the culmination of thousands of hours of work by hundreds of nuclear professionals at Indian Point and across our nuclear fleet and company,” said Chris Bakken, Entergy’s chief nuclear officer. “Indian Point is one of the most reliable electricity generating plants in New York State, and it repeatedly has been determined to be safely and securely operated. I congratulate our outstanding employees on achieving this milestone.”

The receipt of the renewed operating licenses does not change the schedule for the retirement of the Indian Point units in accordance with a 2017 settlement agreement between Entergy and New York State. Under the settlement agreement, Unit 2 will shut down by April 30, 2020 and Unit 3 by April 30, 2021. Entergy cited sustained, lower wholesale power prices as the main factor in its decision to enter into the settlement agreement and shut down the Indian Point units.

The renewed federal licenses permit Unit 2 to operate until April 30, 2024 and Unit 3 to operate until April 30, 2025. The decision to seek renewed licenses that terminate in that timeframe was agreed to by all parties to the 2017 settlement agreement and is intended to allow for limited, continued operations of one or both units – if agreed to by both New York State and Entergy – in the event of unexpected and severe disruptions of the regional electric grid. Entergy does not have any expectation that either unit will run beyond its scheduled shutdown in 2020 and 2021. In February 2017, Entergy filed with the NRC a Notification of Permanent Cessation of Power Operations (Docket Nos. 50-247 and 50-286) certifying that it has decided to permanently cease power operations by those dates.

Entergy concluded the final refueling and maintenance outage at Unit 2 in April of this year, investing tens of millions of dollars to ensure continued safety and reliability. Entergy will conduct the final refueling and maintenance outage at Unit 3 in the spring of 2019. Both Indian Point units remain under the NRC’s normal safety oversight, to which Entergy remains committed.

About Indian Point and Entergy

Indian Point Energy Center, in Buchanan, N.Y., is home to two operating nuclear power plants, Unit 2 and Unit 3, which generate approximately 2,000 megawatts of electricity for homes, business and public facilities in New York City and Westchester County. Indian Point Unit 2 began commercial operation in 1974 and Unit 3 in 1976. Entergy purchased Unit 3 in 2000 from the New York Power Authority and Unit 2 -- along with the permanently closed Unit 1 -- in 2001 from Consolidated Edison.

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 approximately $11 billion and more than 13,000 employees. Additional information is available at www.entergy.com.

Indian Point Energy Center’s online address is www.safesecurevital.com.
Entergy's online address is www.entergy.com
Twitter: @Indian_Point
Facebook: Facebook.com/IndianPointEnergy