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New York utility regulators likely will not decide on power provider Entergy Corp.'s plan to spin off its wholesale nuclear power generators into a separate company until 2010. Advertisement New Orleans-based Entergy had hoped for a decision in November on whether it may place six reactors under a separate publicly traded company Enexus Energy Corp. But two administrative law judges for the state Public Service Commission have ruled that a determination still is needed on whether the new company will have the financial capability to run three of the units in New York: two at Indian Point in Buchanan and one at James A. Fitzpatrick in Oswego County. PSC staff has concerns that long-term unsecured bonds issued for the spinoff might result in a low Enexus bond rating, thus limiting the new company's financial capacity. The judges have proposed a schedule under which environmental issues dealing with the spinoff would be heard by the PSC in December, followed by a ruling in January. Entergy spokesman Michael Burns said if the deal is approved in January, the spinoff could occur in April.

New York utility regulators likely will not decide on power provider Entergy Corp.'s plan to spin off its wholesale nuclear power generators into a separate company until 2010. Advertisement New Orleans-based Entergy had hoped for a decision in November on whether it may place six reactors under a separate publicly traded company Enexus Energy Corp. But two administrative law judges for the state Public Service Commission have ruled that a determination still is needed on whether the new company will have the financial capability to run three of the units in New York: two at Indian Point in Buchanan and one at James A. Fitzpatrick in Oswego County. PSC staff has concerns that long-term unsecured bonds issued for the spinoff might result in a low Enexus bond rating, thus limiting the new company's financial capacity. The judges have proposed a schedule under which environmental issues dealing with the spinoff would be heard by the PSC in December, followed by a ruling in January. Entergy spokesman Michael Burns said if the deal is approved in January, the spinoff could occur in April.

If the owner of Vermont Yankee, Entergy Corp, issued a warning about Vermont Yankee, would that warning have credibility? Of course it would. With the company long touting its safety, a shift to issuing a warning about Vermont Yankee would get attention. Well, Entergy has been issuing a warning -- but we've just not noticed it as a warning. At the legislative hearing on Dec. 2, Sen. Bill Carris, D-Rutland, questioned Entergy's Vice President, Jay Thayer, asking, "I don't think we understand the 'Why?'" But Mr. Thayer provided legislators with no satisfactory answer as to why Entergy was making such efforts to spinoff Vermont Yankee and five others of its aging nuclear power plants. There is a good reason, one found in Entergy's own recent history with another of its spinoffs. That history may be even closer to the mark than the analogy frequently made with Verizon's sale to Fairpoint and its subsequent bankruptcy. In light of Entergy's actual experience with this other spinoff, its efforts to spin off Vermont Yankee can best be understood as a serious warning. Entergy is the company that saved hundreds of millions of dollars by letting its New Orleans subsidiary go bankrupt after Katrina.

If the owner of Vermont Yankee, Entergy Corp, issued a warning about Vermont Yankee, would that warning have credibility? Of course it would. With the company long touting its safety, a shift to issuing a warning about Vermont Yankee would get attention. Well, Entergy has been issuing a warning -- but we've just not noticed it as a warning. At the legislative hearing on Dec. 2, Sen. Bill Carris, D-Rutland, questioned Entergy's Vice President, Jay Thayer, asking, "I don't think we understand the 'Why?'" But Mr. Thayer provided legislators with no satisfactory answer as to why Entergy was making such efforts to spinoff Vermont Yankee and five others of its aging nuclear power plants. There is a good reason, one found in Entergy's own recent history with another of its spinoffs. That history may be even closer to the mark than the analogy frequently made with Verizon's sale to Fairpoint and its subsequent bankruptcy. In light of Entergy's actual experience with this other spinoff, its efforts to spin off Vermont Yankee can best be understood as a serious warning. Entergy is the company that saved hundreds of millions of dollars by letting its New Orleans subsidiary go bankrupt after Katrina.

Entergy Corp. (ETR) remains committed to spinning off five of its nuclear power plants into a stand-alone company, but the company's chief executive suggested a possible alternative Tuesday if it can't win regulatory approval in New York. Entergy Chairman and Chief Executive J. Wayne Leonard said the company could spin off its utility businesses into a stand-alone company to accomplish the same goal of separating its regulated utility businesses concentrated in the Southeast from its nuclear plants that sell power at market prices. "We don't expect to go down that route, but it is a path to get you back to where you were. It just takes us longer and (requires) more regulatory approvals," said Leonard, speaking at the Edison Electric Institute's financial conference in Florida. The New Orleans-based power company has been looking to create the nation's first stand-alone nuclear power company for two years. The deal was first stymied by the global credit freeze as Entergy needs to access billions of dollars in new debt to create the company, to be called Enexus Energy Corp. Now it's awaiting a decision from New York, where the spinoff has faced a push-back from consumer advocates and elected officials.

Entergy Corp. (ETR) remains committed to spinning off five of its nuclear power plants into a stand-alone company, but the company's chief executive suggested a possible alternative Tuesday if it can't win regulatory approval in New York. Entergy Chairman and Chief Executive J. Wayne Leonard said the company could spin off its utility businesses into a stand-alone company to accomplish the same goal of separating its regulated utility businesses concentrated in the Southeast from its nuclear plants that sell power at market prices. "We don't expect to go down that route, but it is a path to get you back to where you were. It just takes us longer and (requires) more regulatory approvals," said Leonard, speaking at the Edison Electric Institute's financial conference in Florida. The New Orleans-based power company has been looking to create the nation's first stand-alone nuclear power company for two years. The deal was first stymied by the global credit freeze as Entergy needs to access billions of dollars in new debt to create the company, to be called Enexus Energy Corp. Now it's awaiting a decision from New York, where the spinoff has faced a push-back from consumer advocates and elected officials.

The operator of the Pilgrim nuclear power plant has asked federal regulators for a six-month extension for an approval to spin off the Plymouth plant and four other power plants into a new company. Michael Kansler, the president of plant owner Entergy Corp.'s nuclear division, wrote a letter to the Nuclear Regulatory Commission this month, asking the agency for a six-month extension of the spinoff's approval from July 28 to next January. The agency approved Entergy's spinoff last July, but that approval is only effective for one year. Kansler, in his May 15 letter, said the company is still trying to get the approvals it needs for the spinoff from state regulators in New York and Vermont. Kansler said the company is actively engaged in settlement negotiations with the New York Public Service Commission, and company officials are optimistic that the Vermont Public Service Board will grant an approval as well.

MONTPELIER - Because of the recent dramatic events on Wall Street, the future of Entergy Corp.'s spinoff plan for five nuclear reactors could be in doubt. The proposal, which includes the Vermont Yankee plant in Vernon, would fold the plants into a new highly leveraged company. Entergy would retain half ownership of Enexus Energy Corp., though the new company would be a separate entity.

"* Entergy to reduce Enexus' debt to $3 bln * Entergy to restrict Enexus' dividend policy NEW YORK, March 3 (Reuters) - Entergy Corp (ETR.N), in an effort to win New York's approval for the proposed spinoff of its non-regulated nuclear reactors, this week offered to give the state up to $300 million for energy efficiency funds, among other things. The New York Public Service Commission planned to consider Entergy's latest offer at a meeting on Thursday."

A US trade mission, which will include representatives of General Electric, Westinghouse and USEC Inc, will visit India this week to hold talks with the government on how to leverage spinoffs from the Indo-US civil nuclear agreement, Shyam Saran, the prime minister's special envoy on the Indo-US nuclear deal, has said. Although the signing of the Indo-US deal on October 10, 2008, will remove the technology-denial regimes for nuclear material as well as dual-use technologies and open a plethora of opportunities for private players, it is too early to comment if foreign companies can set up nuclear power plants, according to Saran. He added the government was cautious in this regard since India's civilian and nuclear programmes were enmeshed. Under the separation plan that is part of the Indo-US nuclear deal, the separation will be completed by 2014.

The Vermont Yankee nuclear plant's future as a provider of a third of the state's electricity could be in jeopardy if the plant's owner spins it off to a newly created company, the head of the state Senate said Wednesday. The comments from Senate President Pro Tem Peter Shumlin, a Democrat who represents Vermont Yankee's home county of Windham, came as lawmakers prepare to debate early next year whether the aging reactor should get a 20-year extension on a license currently set to expire in 2012. Plant owner Entergy Nuclear's plan to spin off Vermont Yankee and five other reactors into a newly created company could make it a "tough sell" to get the Legislature - the only one in the country that has given itself the power to vote up or down on a nuclear license extension - to approve the continuance.

The Vermont Yankee nuclear plant's future as a provider of a third of the state's electricity could be in jeopardy if the plant's owner spins it off to a newly created company, the head of the state Senate said Wednesday. The comments from Senate President Pro Tem Peter Shumlin, a Democrat who represents Vermont Yankee's home county of Windham, came as lawmakers prepare to debate early next year whether the aging reactor should get a 20-year extension on a license currently set to expire in 2012. Plant owner Entergy Nuclear's plan to spin off Vermont Yankee and five other reactors into a newly created company could make it a "tough sell" to get the Legislature - the only one in the country that has given itself the power to vote up or down on a nuclear license extension - to approve the continuance.

Power provider Entergy Corp. is advancing its plans to spin off nuclear plants that generate free-market electricity, a deal that may be a boon for shareholders but a potential burden for taxpayers, according to critics. If approved by regulators, Enexus Energy Corp., to be based in Jackson, Mississippi, will become a separate, publicly traded company in the next several months.

Entergy Corp. has filed a proposal with utility regulators in New York state in a push to get approval of its long-running plan to spin off some of its nuclear power plants into a separate company. Under a plan announced in late 2007, Entergy would spin off six nuclear reactors involved in the wholesale power business into a separate publicly traded company called Enexus Energy Corp. Enexus would control five nuclear operations: Pilgrim Nuclear Station near Plymouth, Mass.; the James A. Fitzpatrick station in Oswego County, N.Y.; two units at the Indian Point Energy Center in Westchester County, N.Y.; Vermont Yankee in Vernon, Vt.; and Palisades Power Plant in Covert, Mich.

The discussion about Vermont Yankee nuclear power plant in Vernon wasn't confined to whether or not it should continue to operate past 2012, its original license expiration date. Also of concern to both sides of the debate, and those in the middle, was whether Entergy, which owns and operates Yankee, should be allowed to spin off Yankee into a wholly independent company with financial liabilities of more than $4 billion. Vermont's Public Service Board is still reviewing whether it should issue a certificate of public good to allow the spin off. Earlier in 2009, the Department of Public Service opposed the formation of Enexus, the spin off company, unless certain conditions were met. After most of the conditions are met by Entergy, DPS recommends the PSB approve the transaction. Greenpeace warned Vermont that the formation of Enexus would not be in the best interests of the state.

The discussion about Vermont Yankee nuclear power plant in Vernon wasn't confined to whether or not it should continue to operate past 2012, its original license expiration date. Also of concern to both sides of the debate, and those in the middle, was whether Entergy, which owns and operates Yankee, should be allowed to spin off Yankee into a wholly independent company with financial liabilities of more than $4 billion. Vermont's Public Service Board is still reviewing whether it should issue a certificate of public good to allow the spin off. Earlier in 2009, the Department of Public Service opposed the formation of Enexus, the spin off company, unless certain conditions were met. After most of the conditions are met by Entergy, DPS recommends the PSB approve the transaction. Greenpeace warned Vermont that the formation of Enexus would not be in the best interests of the state.