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Wednesday, August 27

BRATTLEBORO — Neither a group of environmental organizations nor a labor union have grounds to contest Entergy’s plan to spin off six of its nuclear reactors into a new company, stated the Nuclear Regulatory Commission, in a ruling issued Aug. 22.Because they have no standing, wrote the NRC, their petition to intervene in the license transfer of nuclear power plants in Vernon, Oswego and Buchanan, N.Y., Plymouth, Mass., and Covert Township, Mich., was denied.

Entergy Nuclear, which owns and operates the five sites, has applied to the NRC to move the power plants into a new company called Enexus. The five plants are called merchant plants because they sell electricity to the power market directly and have rates that are not regulated by the states they are located in.

The spin-off is meant to raise $4.5 billion for Entergy and its stockholders by leveraging the assets of six reactors at the five sites.

While the NRC has OK’d the transfer, the federal Securities and Exchange Commission has yet to sign off on the deal.

In addition, Vermont’s Public Service Board must agree to the transfer in the case of Vermont Yankee nuclear power plant in Vernon. In New York State, the attorney general there has indicated it feels the transfer of Indian Point’s two active reactors is not in the best interest of the Empire State’s ratepayers.

Of concern for many regulators is the fact that plants such as