Entergy Purchases Reactor From Consumers Energy

From Reuters:

Entergy Corp. (ETR.N: Quote, Profile, Research), the No. 2 U.S. nuclear power operator, on Wednesday said it agreed to buy a 798-megawatt nuclear plant from a CMS Energy Corp. (CMS.N: Quote, Profile, Research) subsidiary for $380 million.

The deal value includes $242 million for Consumers Energy's Palisades plant located near South Haven, Michigan; $83 million in nuclear fuel based on current market prices; and $55 million for related assets, the company said in a statement.

Entergy agreed to sell the entire output from the plant, up to its current level of 798 megawatts, back to Consumers Energy for 15 years.

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