News:Entergy to buy nuclear power plants
NEW ORLEANS (AP) - Entergy Corp. is buying two nuclear power
generating plants owned by the New York Power Authority for $638
million as it continues an expansion into the Northeast. In July, New
Orleans-based Entergy bought the Pilgrim Nuclear Station at
Plymouth, Mass., from Boston Edison for $81 million. In the New
York deal announced Monday, Entergy is buying the Indian Point 3
plant in Buchanan and the James A. FitzPatrick plant in Oswego
County. Entergy said it would pay $50 million when the deal is
closed and seven annual installments of about $84 million. In
addition, it will pay $168 million over seven years for fuel. The
boards of Entergy and the New York Power Authority will have to
approve the deal, along with the U.S. Nuclear Regulatory
Commission.