Entergy pushes to get spinoff of reactors done
Under a plan announced in late 2007, Entergy would spin off six nuclear reactors involved in the wholesale power business into a separate publicly traded company called Enexus Energy Corp.
Enexus would control five nuclear operations: Pilgrim Nuclear Station near Plymouth, Mass.; the James A. Fitzpatrick station in Oswego County, N.Y.; two units at the Indian Point Energy Center in Westchester County, N.Y.; Vermont Yankee in Vernon, Vt.; and Palisades Power Plant in Covert, Mich.
The plants involved in the proposed spinoff all sell non-regulated power on the wholesale market, where prices can skyrocket as utilities try to cover shortfalls in peak-demand periods.
The spinoff has been approved by the Federal Energy Regulatory Commission, the Nuclear Regulatory Commission and the Internal Revenue Service. In addition to New York, Entergy is awaiting a decision from state utility regulators in Vermont.
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Labour Minister Christina Gray says the money will top up benefits to 75 per cent of a worker’s previous earnings during the time they collect employment insurance.
Alberta is asking the federal government to not claw back existing benefits as the province tops up those EI benefits, while also extending EI benefits for retiring coal workers.
Gray says even if the federal government does not step up, the province will provide the…
