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U.S. regulator urged to bar FitzPatrick nuclear plant sale
October 11, 2016 / 8:11 PM / a year ago

U.S. regulator urged to bar FitzPatrick nuclear plant sale

Oct 11 (Reuters) - Consumer watchdog Public Citizen on Tuesday urged the Federal Energy Regulatory Commission (FERC) to reject the application for Entergy Corp to sell the FitzPatrick nuclear power plant in New York to Exelon Corp .

The group said the application does not include New York Governor Andrew Cuomo’s proposed Zero Emission Credit (ZEC) subsidy, which would allocate about $8 billion over 12 years to three of the state’s nuclear power facilities, it added.

“If the sale of FitzPatrick is approved, Exelon would gain control over all the ZEC-recipient facilities - and would get all $8 billion in subsidies.”

After the companies account for the ZEC-payment, the acquisition of the nuclear plant will likely not be in the public interest, Public Citizen said.

On Aug. 19, Entergy Corp and Exelon filed an application with FERC for permission to sell the FitzPatrick nuclear power facility to Exelon, according to the statement. (Reporting by Harshith Aranya and Vijaykumar Vedala in Bengaluru; Editing by Cynthia Osterman)

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