New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 8, 2013
07:05 EDTETREntergy reports Q4 EPS $1.72, consensus $1.40
Reports Q4 revenue $2.44B, consensus $3.13B.
News For ETR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 13, 2015
08:05 EDTETREntergy to close Pilgrim Nuclear Power Station in Massachusetts
Entergy announced that it will close its Pilgrim Nuclear Power Station in Plymouth, Mass., no later than June 1, 2019, because of poor market conditions, reduced revenues and increased operational costs. The company notified the independent system operator of the electric grid, the ISO New England, that as of that date, Pilgrim would not participate as a capacity resource in the market. The exact timing of the shutdown depends on several factors, including further discussion with ISO-NE, and will be decided in the first half of 2016. The effect of the shutdown on cash flow is expected to be neutral to positive through 2020, compared to Pilgrim's continued operation, depending on uncertainty about the shutdown date, the plant's capacity supply obligation and costs related to the NRC's recent placement of Pilgrim in Column 4 of the Reactor Oversight Process Action Matrix. The preliminary estimate of direct costs of the plant's response to a planned NRC enhanced inspection ranges from $45 million to $60 million pre-tax in operation and maintenance expense, not including any potential capital investment or other costs to address issues that may arise in the inspection. After shutdown, Pilgrim will transition to decommissioning. The Pilgrim nuclear decommissioning trust had a balance of approximately $870 million as of Sept. 30, 2015, representing excess financial assurance of approximately $240 million for license termination activities above NRC-required assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligation. No additional funding is anticipated at this time. Because of the developments in third quarter 2015, including the NRC's decision to place Pilgrim in Column 4 of the Reactor Oversight Process Action Matrix and management's evaluations with respect to the future operations of Pilgrim and the James A. FitzPatrick Nuclear Power Plant, the company is required to test the plants for impairment under generally accepted accounting principles. The effects of any impairment would be reflected in third quarter results and any applicable regulatory disclosures. Any impairment would be classified as a special item (and therefore, excluded from operational results) and would have an effect on earnings expectations in future periods. Before considering any impairment or the decision to close the plant, Pilgrim was expected to incur annual after-tax net losses on an operational basis ranging from approximately $10 million to $30 million for 2015, 2016 and 2017.
October 8, 2015
06:39 EDTETREntergy agrees to sell RISEC to Carlyle Power Partners
Subscribe for More Information
October 5, 2015
16:23 EDTETREntergy COO, chief nuclear officer, to retire in 1Q16
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use