Entergy Corp. on Monday completed the sale of the Pilgrim Nuclear Power Station in Massachusetts to Holtec International for an undisclosed amount of money. This follows the U.S. Nuclear Regulatory Commission’s approval last Thursday of the transfer of Pilgrim’s federal operational and spent fuel storage licenses.
“The successful Pilgrim transaction demonstrates continued progress on Entergy’s exit from merchant power markets,” said Entergy Chairman and CEO Leo Denault in a press release. “With our previously-announced signed agreements for the post-shutdown sales of Indian Point and Palisades nuclear power plants in 2021 and 2022, respectively, we remain on track to accomplish our exit plan.”
Holtec, an energy technology firm based in Camden, N.J., is now responsible for decommissioning, site restoration, and spent fuel management at the one-reactor facility that shut down on May 31. The company says it can complete decommissioning in eight years within the funding provided by the decommissioning trust for Pilgrim, which passed from Entergy as part of the sale. Holtec predicts a $1.134 billion decommissioning budget, with slightly more than $1 billion currently in its trust.
“We are committed to engaging with stakeholders at the local and state levels to ensure a smooth flow of information throughout the decommissioning process,” Holtec President & CEO Kris Singh said in the same release. “The cutting-edge technologies we use will ensure maximum safety for our employees and communities and enable the site to be decommissioned decades sooner than if Pilgrim had remained under Entergy’s ownership.”
The commonwealth of Massachusetts had petitioned to intervene in the NRC license transfer proceeding and had been expected to request a stay of last week’s approval from agency staff. Through the Massachusetts Attorney General’s Office it has raised a number of concerns as the process advanced, including whether Holtec would have enough money to complete decommissioning.
“We are deeply disappointed in the NRC’s misguided decision to approve the license transfer and trust fund exemption requests, and its failure to meaningfully consult with our state prior to doing so,” said Chloe Gotsis, a spokeswoman for the Massachusetts Attorney General’s Office. “We continue to have serious concerns about Holtec’s financial capacity, technical qualifications, and judgment to safely and properly clean up the site, and store and manage Pilgrim’s spent nuclear fuel. We are reviewing all of our available options to ensure the health, safety and interests of our residents and the environment are protected.”
