Entergy Corp.’s (ETR) proposed spin-off of its Non-utility Nuclear power business has been relegated to fiscal 2010. Recently, the New York Public Service Commission’s two administrative law judges in a ruling stated their apprehension regarding the new company having the financial viability to operate three units located in the state of New York. Of this, two units are located in the Indian Point Energy Center in Westchester County and a reactor at the James A. Fitzpatrick station in Oswego County. The New York Public Service Commission expressed its apprehension that the $3.5 billion worth of long-term unsecured bonds that Entergy plans to issue for the spin-off will drag down the bond rating of the new company, affecting its financial capacity. The Commission has also relegated its next hearing to December 2009 followed by a final decision on the spin-off in January 2010. Entergy has been ...

Entergy Corp. (ETR) recently got a breather as the Nuclear Regulatory Commission approved a pending half-yearly extension on its spin-off effort. The Nuclear Regulatory Commission has given Entergy an additional six months to get the pending regulatory approvals in New York and Vermont and procure the required financing to spin off five nuclear plants. Earlier in May, Entergy had requested a six-month extension to tide over the hurdles.

Entergy wants to spin off the nuclear plants as a new company – Enexus Energy Corp. The nuclear plants are Pilgrim in Plymouth, Massachusetts; Vermont Yankee in Vernon, Vermont; Indian Point in Westchester County, New York; Fitzpatrick in Oswego County, New York and the Palisades plant in Covert, Michigan.

Entergy plans to finish the spin-off of its non-utility nuclear power business by end of 2009. The spin-off will leave the company with five regulated utilities and other assets in the

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