US power utility Exelon Corporation has agreed to acquire the 813 MW James A. FitzPatrick nuclear power plant in Scriba, New York (United States) from US energy company Entergy for US$110m. Entergy already operates the Nine Mile Point and Ginna nuclear plants in the state of New York.
The New York Power Authority has 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. Transaction closure is dependent upon regulatory review and approval by state and federal agencies. The transaction is expected to close in the second quarter of 2017. The nuclear power plant will benefit from the New York's Clean Energy Standard (CES) that explicitly recognises nuclear as a crucial zero-CO2 source to meet climate change targets.
Entergy announced in November 2015 that it planned to shut down and decommission the FitzPatrick plant, later setting the timing to cease operations as late January 2017.
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