Holtec To Decommission Pilgrim And Palisades NPPs

Announced shortly after Exelon Generation said Holtec International would purchase the Oyster Creek Nuclear Power Plant in New Jersey when it closed for decommissioning, Entergy Corp. said Thursday that it had agreed to part with the subsidiaries that own the Pilgrim Nuclear Power Station in Massachusetts and the Palisades Power Plant in Michigan after their final shut downs and defuelings.

Pilgrim NPPSimilar to the previous sale, the sale to Holtec in this case includes the transfer of the licenses, spent fuel and Nuclear Decommissioning Trusts. The Entergy sale, however, includes, as well as the site of the decommissioned Big Rock Point Nuclear Power Plant near Charlevoix, Michigan, which is the site of the only remaining Independent Spent Fuel Storage Installation.

As with the Oyster Creek sale, the transaction requires approval from the Nuclear Regulatory Commission.

If approval is granted in a timely manner, Holtec intends to begin decommissioning Pilgrim NPP in 2020 and have all the major decommissioning steps completed within eight years. There is no current time line established for decommissioning the Palisades power plant. That will be forthcoming “closer to its shutdown,” Entergy said.

However, for both Palisades and Pilgrim, Holtec expects the spent fuel will be transferred from cooling pools to dry casks within three years of the plants' respective closings.

Entergy has set itself on a path to exit the wholesale commodities market and refashion itself as a “pure play utility.” The company is also seeking regulatory approval to sell its holdings that own the Vermont Yankee power plant that closed in late 2014.

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