New York, Holtec reach deal on Indian Point nuclear power plant sale, clearing way for cleanup

Some local schools and municipalities will reap millions under a separate agreement.
Thomas C. Zambito Rockland/Westchester Journal News

New York has dropped its challenge to the sale of the Indian Point nuclear power plant in return for the new owner’s guarantee to keep $400 million in a decommissioning trust fund for the next 10 years.

The agreement reached Wednesday appears to resolve the state’s biggest concern with the Indian Point sale – that trust fund money could dry up during the teardown, sticking ratepayers with the tab for a cleanup expected to take at least 12 years.

The last of Indian Point’s two working reactors are slated to shut down at the end of the month, when ownership of the Buchanan plant shifts from Entergy to Holtec International, a New Jersey-based decommissioning firm.

The Leader

Read More…