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Exelon Closes USD 110m Acquisition of Entergy Nuclear Power Plant in Upstate New York.

M2 EQUITYBITES-April 3, 2017-Exelon Closes USD 110m Acquisition of Entergy Nuclear Power Plant in Upstate New York

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3 April 2017 - Illinois-based utility services holding company Exelon Generation (NYSE: EXC) has closed the acquisition US-based electric utility operator Entergy Corp.'s (NYSE: ETR) James A. FitzPatrick Nuclear Power Plant in Scriba, New York, for USD 110m, the company said.

Under the agreement, totaling USD 110m, Entergy transfered FitzPatrick's operating license to Exelon.

The New York Power Authority agreed to transfer the decommissioning trust fund and liability for FitzPatrick to Entergy, and if regulatory approvals are obtained and the transaction closes, Entergy would then transfer the fund and associated liability to Exelon.

The 838mw James A. FitzPatrick Nuclear Power Plant generates carbon-free electricity for more than 800,000 homes and businesses.

Exelon operates two other nuclear energy facilities in upstate New York: R.E. Ginna and Nine Mile Point, the latter of which is adjacent to FitzPatrick.

Together, the two plants provide carbon-free electricity to more than 2.5m homes and businesses, employing more than 1,500 full-time staff.

Entergy Corporation is a holding company engaged in electric power production and retail electric distribution operations.

Entergy owns and operates power plants with approximately 30,000mw of electric generating capacity, including nearly 9,000mw of nuclear power. Entergy delivers electricity to 2.9m utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately USD 10.8bn and nearly 13,000 employees.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U2NY
Date:Apr 3, 2017
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