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Stock Market & Financial Investment News

News Breaks
March 18, 2013
10:02 EDTETREntergy issues statement on Palisades Nuclear Power Plant
In regards to the recent media coverage of the Palisades Nuclear Power Plant and the industry topic of pressurized thermal shock, Entergy Corporation issued the following statement from Tony Vitale, Palisades' site vice president:"The Palisades nuclear plant is a safe and secure facility, and we have an NRC license to operate this facility through 2031. The Nuclear Regulatory Commission has strict rules, regulations and limits for all aspects of nuclear plant operations. This includes a program to monitor nuclear power plant reactor vessels and the potential impact of a rare accident scenario pressurized thermal shock in which a large amount of cold water is injected into the reactor resulting in rapid cooling of the reactor vessel. This is not a new topic or one that is unique to Palisades. In fact, for decades pressurized thermal shock has been well understood and well monitored by the owners and operators of the nation's pressurized water reactors. We have every reason to believe the test results will again demonstrate the safety and strength of the Palisades reactor vessel which will enable us to continue operating through the end of our license in 2031. We will submit an updated evaluation to the NRC for its review in the spring of 2014."
News For ETR From The Last 14 Days
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December 15, 2014
10:00 EDTETROn The Fly: Analyst Upgrade Summary
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08:14 EDTETREntergy upgraded at Morgan Stanley
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06:33 EDTETREntergy upgraded to Equal Weight from Underweight at Morgan Stanley
06:18 EDTETREntergy upgraded to Neutral from Sell at Citigroup
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December 12, 2014
15:10 EDTETREntergy wins appeal ruling related to Indian Point
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December 9, 2014
09:07 EDTETREntergy agrees to buy Union Power Station for $948M
Entergy announced that its subsidiaries, Entergy Arkansas, Entergy Gulf States Louisiana, and Entergy Texas have signed an agreement to acquire the Union Power Station near El Dorado, Arkansas. The station is owned by Union Power Partners, L.P., an independent power producer and wholly-owned by Entegra TC LLC. The Union Power Station, which entered commercial service in 2003, consists of four combined-cycle gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Arkansas and Entergy Texas have each agreed to acquire one unit and Entergy Gulf States Louisiana has agreed to acquire two units. Entergy New Orleans will receive 20 percent of the output from the Entergy Gulf States Louisiana units via an at-cost purchase power agreement, subject to City Council of New Orleans approval. The plant purchase price is $948M, or $237M per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility. The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015. The total investment associated with this proposed plant acquisition, including the amounts associated with the purchase price, transaction costs, contingency and future investment in the plant and transmission upgrades, was generically included in the previously disclosed preliminary 2015 through 2017 capital plan for Entergy and the affected subsidiaries. In addition, the estimated earnings implications were reflected in the financial outlook of approximately 5%-7% compound annual average net income growth through 2017 (off 2013 base year) for the Utility business. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including more than 10,000 megawatts of nuclear power, making it one of the nation's leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,000 employees.

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