N.Y.: No ruling on Entergy nuclear spinoff in 2009 | LoHud.com | The Journal News - 0 views
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Energy Net on 11 Sep 09New 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.
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Energy Net on 11 Sep 09New 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.