Entergy Nuclear Spinoff Plan Hits Obstacle
Entergy Corp.'s plan to improve its finances by spinning off its nuclear plants into a standalone company faces another obstacle.
Top staff at the state's Public Service Commission recommended against the proposal to allow the sale by the New Orleans-based company, saying Thursday it's against the public's best interest.
The proposal raised concerns about potential financial and environmental problems with the proposed $3.5 billion deal.
PSC staff offered several suggestions to reduce some of the risk. The commission may deliver a decision when they meet March 4.
Entergy operates the FitzPatrick and Indian Point 2 and 3 plants in New York, the Pilgrim Nuclear Power Station in Massachusetts, the Palisades Nuclear Plant in Michigan and the Vermont Yankee Nuclear Power Station.