In our 100-year history of providing reliable and affordable power to Mississippians, no area has a chapter in our story like that of the Rex Brown Cooling Pond. The chapter, which we’ve officially finished by returning the property back to Jackson Public Schools, played a critical role in keeping the lights on for thousands of homes and businesses.

Commonly known to the community as Lake Hico, the Rex Brown Cooling Pond was created in the 1950’s to supply a pipeline from the Pearl River to Entergy Mississippi’s (formerly Mississippi Power & Light) . This pump system allowed us to safely recirculate water to the plant and continue generating electricity at Rex Brown until the plant’s retirement in 2019.

Older Jacksonians might recall fishing, or even taking a dip in the body of water. That’s because up until 1960’s environmental laws were enacted, industrial cooling ponds could coexist as recreational facilities. Similarly, in 1961 MP&L adopted hard hats as essential gear for line workers. The focus on the safety of worksites and communities clearly took a turn for good during that decade.

Though the plant sat on Entergy property, the cooling pond was on 16^th section land, managed by JPS. Without the cooling pond the plant’s 71-year legacy could not have been, and for that we are thankful for a decades-long relationship as a tenant to the school district.

When we made the decision to retire Rex Brown and invest in more modern, reliable power generation, we knew that closing the plant would make Lake Hico an attractive site for future community or economic development. So, with the approval of the Mississippi Department of Environmental Quality, we got to work on a plan to appropriately close the lake and return the land to its original state.

We’ve imploded what was left of Rex Brown, so that it wouldn’t be an eyesore or safety hazard. We’ve drained the lake and completed soil testing to ensure its safety for future use. We’ve even updated fencing, so the land is secured while its destiny is decided.

Recently, JPS has held community forums to gather suggestions on what the next phase of Lake Hico should be. No matter the final decision, Entergy Mississippi eagerly looks forward to serving the development in its new Northside Drive home.

Thank you, Lake Hico, for once being our home too.

GREENVILLE, Miss. – For the first time in 50 years, Entergy Mississippi is building a new natural gas power station, which will ensure customers continue to have modern, reliable energy well into the future. The advanced facility will be the first combined-cycle combustion turbine power station the company has built from the ground up.

“As our customers’ needs and environmental factors evolve, so must our fleet. We’re investing in cleaner, more efficient power generation now, to help us keep bills lower for customers than they otherwise would be in the future,” said Haley Fisackerly, president and CEO of Entergy Mississippi.

The combined-cycle combustion turbine facility is a dual-fuel technology. While natural gas is the primary resource, the advanced facility will be designed to support blended hydrogen to produce reliable energy.

Eventually, the company will retire the Gerald Andrus Steam Electric Station, which is currently located in Greenville. By replacing older power plants with more advanced and efficient technology, Entergy Mississippi is producing more electricity from the same amount of fuel while significantly reducing carbon emissions.

Over the past two decades, the utility has bought three natural gas power stations – Attala Plant in Sallis (2006), Hinds ���ϳԹ��� Facility in Jackson (2012) and Choctaw ���ϳԹ��� Facility in French Camp (2019).

In addition to the current natural gas units, the Sunflower Solar Station near Ruleville (2022) and the Grand Gulf Nuclear Station in Port Gibson (1985) are generating emission-free electricity and contributing to the company’s diverse and reliable power generation mix. Entergy Mississippi purchased the solar facility and owns a portion of the nuclear plant.

The new power station is expected to be completed in 2028.

About Entergy Mississippi

Entergy Mississippi, LLC provides electricity to approximately 459,000 customers in 45 counties. Entergy Mississippi is a subsidiary of ���ϳԹ���, a Fortune 500 electric company. Entergy powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than , Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. For the latest news from Entergy Mississippi, visit the and connect with @EntergyMS on social media.

JACKSON, Miss. – It was the end of an era the morning of Thursday, July 28. That’s when Entergy Mississippi imploded the remainder of the Rex Brown Steam Electric Station, a natural gas-fired plant that served the company’s customers for 71 years.

The controlled implosion was the final stage of the demolition of the generating facility, named for a former Mississippi Power & Light Company president. Entergy retired the plant in 2019 as part of a process to modernize its generating portfolio. In an effort to be a good corporate citizen, the company is removing all traces of the decommissioned plant. Crews have been removing chemicals and equipment, disconnecting power sources and dismantling outlying structures from its prominent site on Jackson’s Northside Drive.

At peak capacity, the Rex Brown plant could generate 676,000 kilowatts of electricity.

“Rex Brown played a crucial role in Entergy being able to meet its obligation to provide safe, reliable and affordable energy to our customers,” said Haley Fisackerly, Entergy Mississippi president and CEO. “But as newer, cleaner technologies emerged and the plant neared the end of its useful life, it was time to retire Rex Brown and focus on modernizing our grid to make it even more reliable and resilient for customers now and in the future.”

The land that the plant sat on is Entergy-owned property and will be held by the company for future use. The land that the cooling pond is on is 16^th section property owned by Jackson Public Schools. Entergy leased the property and will return it to JPS in its original state, per JPS’ request.

Entergy Mississippi has been in operation for nearly 100 years. During that time, the company has owned and operated many natural gas-fired generating plants, as well as Grand Gulf Nuclear Station. As the older plants, such as Rex Brown, reached the end of their natural lives the company has taken steps to replace their generating capacity:

• . In May, construction was complete on a 100-megawatt renewable solar power station in the Mississippi Delta. It will provide clean energy to Entergy Mississippi’s 461,000 customers.
• . “Economic Development with Green ���ϳԹ���” is a program announced last year that will replace some aging natural gas plants with 1,000 megawatts of renewable energy, such as solar, over the next five years. The program’s strategy is two-fold: give Mississippi an edge in recruiting industry while also giving Entergy customers a hedge against volatile natural gas prices. It will be the largest expansion of renewable power in state history.
• . Entergy purchased this clean, modern 810-megawatt combined-cycle natural gas turbine unit in 2019.
• . Entergy joined the Midcontinent Independent System Operator, a regional transmission organization, in 2013. MISO operates sophisticated markets for the purchase and sale of electricity, and membership has resulted in tens of millions of dollars in savings to Entergy Mississippi customers to date as well as increased reliability.
• Grand Gulf Nuclear Station. In 2012, Entergy upgraded its nuclear plant to increase its output of power to more than 1,440 megawatts and purchased additional output from Entergy Arkansas. The company also won approval to extend the license to operate the plant through 2044.
• . Entergy purchased this clean, modern 450-megawatt combined-cycle natural gas turbine unit in 2012.

About Entergy Mississippi

Entergy Mississippi, LLC provides electricity to approximately 461,000 customers in 45 counties. Entergy Mississippi is a subsidiary of ���ϳԹ���, an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and approximately 12,500 employees.

COVERT, MI – Entergy today completed the sale of the subsidiary that owns the Palisades Power Plant to Holtec International to ensure a safe and timely decommissioning of the nuclear site. Palisades was permanently May 20, 2022, after generating safe, secure and reliable electricity for more than 50 years. The transaction will also transfer ownership of the decommissioned Big Rock Point site in Charlevoix, Michigan from Entergy to Holtec.

The sale of the Palisades plant completes Entergy’s planned exit from the nuclear merchant power business, and follows the closure and sale of the Vermont Yankee, Pilgrim and Indian Point plants and the sale of the operating James A. Fitzpatrick plant.

“We thank the excellent employees of Palisades for their dedication to safe, secure and reliable operations and we look forward to many of them continuing on with Entergy at new locations within our utility service area,” said Entergy Chairman and Chief Executive Officer Leo Denault. “We remain committed to our four nuclear power stations in Arkansas, Louisiana and Mississippi. The clean, carbon-free energy they produce is a key part of Entergy reaching its 2050 net-zero emissions commitment.”

Entergy first announced the planned closure of Palisades in 2016 in accordance with its strategic business decision to focus on its utility operations in the Gulf South. The company believes nuclear power is essential to the nation’s goals for mitigating the impact of climate change.

The U.S. Nuclear Regulatory Commission approved the transfer of the license of Palisades from Entergy to Holtec for purposes of decommissioning in December 2021. The federal agency determined that Holtec possesses the required technical and financial qualifications to own and decommission Palisades safely and in accordance with regulatory requirements.

“We are pleased to be acquiring these facilities to add to our growing decommissioning fleet. We are also pleased that the talented, knowledgeable, and hard-working team at Palisades is joining the Holtec team. These team members will continue to deploy the same cutting-edge technologies that we have employed at Indian Point, Pilgrim, and Oyster Creek to ensure maximum worker safety, protection of the environment, preservation of the well-being of the local community, and to build upon the excellence achieved at other plants in our fleet,” said Mr. Kelly Trice, President of Holtec Decommissioning International.

Decommissioning Palisades

Holtec filings with the NRC detail its plans to complete the dismantling, decontamination, and remediation of Palisades to NRC standards by 2041, more than 40 years sooner than if Entergy continued to own the facility and selected the maximum 60-year NRC SAFSTOR option for decommissioning. A safe and timely decommissioning is welcomed news for the plant’s community, which stands to benefit from potential site reuse.

About Entergy

Entergy (NYSE: ETR), a Fortune 500 company headquartered in New Orleans, powers life for 3 million customers through its operating companies across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations. Learn more at entergy.com and follow @Entergy on social media. #WePowerLife

About Holtec International

Holtec International is a privately held technology company with operation centers in Florida, New Jersey, Ohio and Pennsylvania in the U.S., and globally in Brazil, Canada, India, Japan, Mexico, South Africa, Spain, U.K. and Ukraine. Since the 1980s, Holtec has played a preeminent role in the energy industry by developing and implementing innovative solutions to overcome technical challenges faced by its clients around the world. Pioneering the technology to expand the nuclear fuel storage capacity in the wet storage pools, Holtec has increased the storage capacity on average by over 50% at over 110 reactor units worldwide. Over 130 nuclear units worldwide rely on Holtec’s technology for spent nuclear fuel storage and transportation; 70 of these are located in the U.S. Highlights of Holtec’s core business focus also includes the safe and efficient decommissioning of shuttered nuclear plants; the current fleet includes Indian Point, Pilgrim and Oyster Creek. Holtec’s decommissioning model includes the assumption of the entire plant including the spent nuclear fuel. Holtec’s approach to decommissioning is to begin and complete the physical work of decontamination and dismantlement decades sooner than if the current nuclear plant owner retains ownership of the plant. HI-STORE, the world’s first below-ground Consolidated Interim Storage Facility, is currently undergoing licensing for deployment in New Mexico. Holtec’s SMR-160, a 160-Megawatt small modular reactor, will provide safe, secure, dependable, affordable and carbon-free power even in the world’s most arid regions. As a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment, Holtec provides air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. As a fully integrated supplier, Holtec possesses in-house capabilities to design, engineer, analyze, license, fabricate and construct these technologies.

B-roll and photos of Palisades: www.entergy.com/palisadespower

Announced in 2017, the shutdown of Palisades completes Entergy’s strategy to exit the merchant power generation business and coincides with the expiration of the station’s 15-year power purchase agreement with Consumers ���ϳԹ���.

“The enduring legacy of Palisades is the thousands of men and women who safely, reliably, and securely operated the plant, helping power Southwest Michigan homes and businesses for more than 50 years,” said Darrell Corbin, site vice president. “We refer to a credo at Palisades: ‘Palisades Proud.’ Thanks to the pride, professionalism, and hard work of our 600-member team, we finished Palisades Proud. We are also grateful to the local community for its support of the plant and for the strong partnership we have enjoyed all these years.”

The shutdown completes a remarkable operating history for the 800-megawatt facility. The facility shut down after continuously generating electricity for 577 days since it was last refueled – a site and world record production run for a plant of its kind. Palisades remains ranked in the U.S. Nuclear Regulatory Commission’s highest safety category and is regarded by its peers as one of the top performers in the industry.

Entergy Employees at Palisades Power Plant

Following Entergy’s shutdown announcement in 2017, Entergy made several commitments to its employees at Palisades, including:

• Any employee willing to relocate to another Entergy facility would be provided a job for which they were qualified. Approximately 130 employees have accepted a job offer from Entergy within the southern utility service territory.

• As part of the company’s sale agreement with Holtec International, the new owner of the plant post-shutdown will hire approximately 260 current Palisades employees for the first phase of decommissioning. Holtec agreed to honor existing collective bargaining agreement contracts with union employees.

• Approximately 180 employees at Palisades will separate from the company; more than half of those employees are retirement eligible.

Decommissioning Palisades

In December 2021, the NRC approved the the license from Entergy to Holtec International for purposes of the safe and timely decommissioning of Palisades following the plant’s permanent shutdown and reactor defuel. The license transfer is scheduled for this summer.

Holtec filings with the NRC detail its plans to complete the dismantling, decontamination, and remediation of Palisades to NRC standards by 2041, more than 40 years sooner than if Entergy continued to own the facility and selected the maximum 60-year NRC SAFSTOR option for decommissioning. A safe and timely decommissioning is welcomed news for the plant community, which stands to benefit from potential site reuse.

About Entergy

Entergy (NYSE: ETR), a Fortune 500 company headquartered in New Orleans, powers life for 3 million utility customers through its operating companies across Arkansas, Louisiana, Mississippi and Texas. Entergy is creating a cleaner, more resilient energy future for everyone with our diverse power generation portfolio, including increasingly carbon-free energy sources. With roots in the Gulf South region for more than a century, Entergy is a recognized leader in corporate citizenship, delivering more than $100 million in economic benefits to local communities through philanthropy and advocacy efforts annually over the last several years. Our approximately 12,500 employees are dedicated to powering life today and for future generations. Learn more at entergy.com and follow @Entergy on social media. #WePowerLife

Indian Point Unit 1 was shut down in 1974. Indian Point Unit 2 was shut down in April 2020.

Entergy and Holtec the Indian Point sale in April 2019. The U.S. Nuclear Regulatory Commission the transfer of Indian Point’s licenses to Holtec in November 2020 and the New York State Public Service Commission approved the transfer on May 19, 2021. The agencies found that Holtec possesses the required technical and financial qualifications to own and decommission Indian Point safely and in accordance with regulatory requirements.

“We thank all our employees at Indian Point for operating a safe, secure and reliable plant for more than 20 years under Entergy’s ownership, and we look forward to many of them continuing on with Entergy at new locations,” said Entergy chairman and CEO Leo Denault. “With our previously announced agreement for the post-shutdown sale of Palisades nuclear power plant in 2022, we remain on track to complete our exit from nuclear power operations in merchant markets.”

“Protecting public health and safety and the environment is the foundation upon which the Indian Point decommissioning program will be carried out,” said Holtec’s president and CEO Dr. Kris Singh. “The cutting-edge technologies that we have employed at Pilgrim and Oyster Creek to ensure maximum worker and environmental safety and wellbeing of the local communities will be employed at Indian Point to secure the same excellent outcomes that we continue to achieve at other plants in our fleet. We are committed to a continuous engagement with the stakeholders at the local and state levels to ensure a smooth dissemination of information at all times.”

About ���ϳԹ���

���ϳԹ��� is an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and more than 13,000 employees. Learn more at entergy.com and follow @Entergy on social media.

Entergy owns and operates five nuclear power units in its regulated utility business, and is committed to the continued operation of its nuclear fleet in those locations. Its nuclear power plants in those markets are located in Louisiana, Arkansas and Mississippi, and have more than 5,000 megawatts of clean, reliable, and economic electricity generating capacity for customers in those regions.

Entergy currently owns one remaining merchant nuclear power plant, Palisades Power Plant, in Michigan, which is scheduled to permanently shut down in the spring 2022. Entergy previously plans to sell Palisades to Holtec International for decommissioning following its shutdown.

About Holtec International

Holtec International is a privately held technology company with operation centers in Florida, New Jersey, Ohio, and Pennsylvania in the U.S., and globally in Brazil, Canada, India, Japan, Mexico, South Africa, Spain, U.K., and Ukraine. Since the 1980s, Holtec has played a preeminent role in the industry by expanding the wet spent fuel storage capacity at over 110 reactor units worldwide. Over 130 global nuclear units rely on Holtec’s technology for spent fuel storage and transportation. Holtec develops and implements innovative solutions to overcome technical challenges faced by its clients around the world. HI-STORE, the world’s first below-ground Consolidated Interim Storage Facility, is currently undergoing licensing for deployment in New Mexico. Holtec’s SMR-160, a 160-Megawatt small modular reactor, will provide safe, secure, dependable, affordable, and carbon-free power even in the world’s most arid regions. Holtec is also dedicated to the safe and efficient decommissioning of shuttered nuclear plants. Holtec’s approach to decommissioning is to begin and complete the physical work of decontamination and dismantlement decades sooner than if the current nuclear plant owner retains ownership of the plant. As a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment, Holtec provides air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. As a fully integrated supplier, Holtec possesses in-house capabilities to design, engineer, analyze, license, fabricate and construct these technologies.

Cautionary Note Regarding Forward-Looking Statements

In this news release, and from time to time, ���ϳԹ��� makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, Entergy’s plans and expectations with respect to its planned exit from the merchant nuclear power business, and other statements of Entergy’s plans, beliefs, or expectations included in this news release. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including strategic transactions that Entergy or its subsidiaries may undertake and the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized; (h) effects of changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, or energy policies; (i) the effects of changes in commodity markets, capital markets, or economic conditions; (j) impacts from a terrorist attack, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy’s business or operations, and/or other catastrophic events; (k) the direct and indirect impacts of the COVID-19 pandemic on Entergy and its customers; and (l) the effects of technological change, including the costs, pace of development and commercialization of new and emerging technologies.

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BUCHANAN, N.Y. – Subsidiaries of ���ϳԹ��� and Holtec International, along with the New York State Department of Public Service Staff, the New York State Office of the Attorney General, the New York State Department of Environmental Conservation, the New York State ���ϳԹ��� Research and Development Authority, the New York State Division of Homeland Security and Emergency Services, Westchester County, Hendrick Hudson School District, Town of Cortlandt, Village of Buchanan, Riverkeeper, Inc., and the Public Utility Law Project of New York, Inc, today filed a Joint Proposal with the New York Public Service Commission, which reflects a comprehensive settlement of the issues raised in the proceeding concerning the proposed post-shutdown transfer of Indian Point to subsidiaries of Holtec for decommissioning. The parties to the Joint Proposal recommend that the PSC adopt the proposal and approve the post-shutdown transfer of Indian Point from Entergy to Holtec.

Entergy and Holtec have requested a decision on the Joint Proposal in May.

Entergy and Holtec previously filed a petition with the New York PSC concerning the proposed transfer of Indian Point and a license transfer application with the U.S. Nuclear Regulatory Commission in November 2019. The NRC approved the license transfer in November 2020.

Among other issues, the Joint Proposal resolves issues of financial assurance, site restoration, financial reporting, continued funding for state and local emergency management and response activities, a memorandum of understanding with local taxing jurisdictions concerning property taxes, and the dismissal of the D.C. Circuit litigation relating to Indian Point transfers by the State and local entities who are parties to the litigation and signed the Joint Proposal.

“The difficult but necessary decision we made four years ago to shut down the safely and securely operated Indian Point ���ϳԹ��� Center was hardest on our dedicated and professional employees,” said Leo Denault, Entergy’s Chairman and Chief Executive Officer. “I want to thank the team at Indian Point for their service and for finishing strong.”

“We are pleased to have reached a comprehensive and equitable agreement relative to the prompt decommissioning of Indian Point with the many stakeholders who were involved in the process,” added Denault.

“We are pleased to have reached a comprehensive and equitable agreement relative to the prompt decommissioning of Indian Point with the many stakeholders who were involved in the process.”
– Leo Denault, chairman and CEO, ���ϳԹ���

The sale of Indian Point following its permanent shutdown will benefit the community by enabling the facility to be removed and the site remediated decades sooner than otherwise thought possible.

Indian Point Unit 2 shut down on April 30, 2020. Indian Point Unit 3 will shut down by April 30, 2021.

“Holtec is pleased to have found common ground and reached consensus with the State of New York, and the interested parties, on a Joint Petition that supports the prompt, safe, and efficient decommissioning of Indian Point,” said Holtec’s President and Chief Executive Officer, Dr. Kris Singh. “Our commitment to be a good neighbor and shared goal of protecting the health and safety of the public and the environment, were key to reaching agreement on a number of issues. This joint proposal provides for additional financial assurance, oversight as well as environmental protections that serve to mitigate risk and protect the interests of the local communities and citizens of New York.”

Holtec, with experience performing prompt decommissioning at other sites, plans to begin the decommissioning process at Indian Point promptly upon taking ownership and expects to release most of the site for re-use by the 2030s, as much as 40 years sooner than if Entergy continued to own the facility. As part of the agreement between the companies, Holtec will initially provide job opportunities for over 300 of Entergy’s current employees at Indian Point and it also has agreed to honor the collective bargaining agreements that apply to current employees.

Background Information

���ϳԹ��� (NYSE: ETR) is an integrated energy company engaged in electric power production, transmission, and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and more than 13,000 employees. Learn more at entergy.com and follow @Entergy on social media.

Holtec International is a privately held technology company with operation centers in Florida, New Jersey, Ohio, and Pennsylvania in the U.S., and globally in Brazil, Canada, India, Japan, Mexico, South Africa, Spain, U.K., and Ukraine. Since the 1980s, Holtec has played a preeminent role in the industry by expanding the wet spent fuel storage capacity at over 110 reactor units worldwide. Over 130 global nuclear units rely on Holtec’s technology for spent fuel storage and transportation. Holtec develops and implements innovative solutions to overcome technical challenges faced by its clients around the world. HI-STORE, the world’s first below-ground Consolidated Interim Storage Facility, is currently undergoing licensing for deployment in New Mexico. Holtec’s SMR-160, a 160-Megawatt small modular reactor, will provide safe, secure, dependable, affordable, and carbon-free power even in the world’s most arid regions. Holtec is also dedicated to the safe and efficient decommissioning of shuttered nuclear plants. Holtec’s approach to decommissioning is to begin and complete the physical work of decontamination and dismantlement decades sooner than if the current nuclear plant owner retains ownership of the plant. As a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment, Holtec provides air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. As a fully integrated supplier, Holtec possesses in-house capabilities to design, engineer, analyze, license, fabricate and construct these technologies.

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COVERT, Mich. – ���ϳԹ��� and Holtec International, through their affiliates, jointly submitted a License Transfer Application today with the U.S. Nuclear Regulatory Commission requesting approval to transfer the NRC licenses for the Palisades Nuclear Plant to Holtec following its shutdown and permanent defueling in the spring of 2022.

“Holtec’s plan to safely accelerate the Palisades decommissioning schedule by more than four decades provides the potential for site redevelopment much sooner than if Entergy continued to own the facility after shutdown,” said Chris Bakken, Entergy Executive Vice President Nuclear Operations and Chief Nuclear Officer. “The completion of major decommissioning activities on an accelerated timeframe is important to the local community, which could benefit from economic opportunity at the site.”

Holtec’s filings detail its plan to complete the dismantling, decontamination, and remediation of Palisades to NRC standards by 2041, more than 40 years sooner than if Entergy continued to own the facility and selected the maximum 60-year NRC SAFSTOR option for decommissioning. As part of the agreement between the companies, Holtec will provide job opportunities for around 260 of Entergy’s employees who currently work at Palisades. Entergy previously announced a plan to find a position within its company for qualified employees who are willing to relocate. 

 “This key regulatory filing sets in motion a new beginning for Palisades and the local community,” said Holtec’s President and Chief Executive Officer, Dr. Kris Singh. “As a proven leader in decommissioning, with a dynamic fleet of projects around the nation and the globe, Palisades’ neighbors and stakeholders are assured a strong and steadfast commitment to safety, precision, and efficiency as our Holtec team decommissions this facility and brings a new economic future to the region.”

“Holtec’s plan to safely accelerate the Palisades decommissioning schedule by more than four decades provides the potential for site redevelopment much sooner than if Entergy continued to own the facility after shutdown.”

– Chris Bakken, Entergy Executive Vice President Nuclear Operations and Chief Nuclear Officer

The application also requests approval of the license transfer of Entergy’s already-decommissioned Big Rock Point facility near Charlevoix, Mich., where only an Independent Spent Fuel Storage Installation remains.

Following NRC regulatory approval and transaction close, Holtec will assume ownership of the Palisades site, its Nuclear Decommissioning Trust fund, real property, and used nuclear fuel. It will also assume ownership of the Big Rock Point ISFSI property and used nuclear fuel.

In addition to today’s License Transfer Application, Holtec submitted to the NRC a Post-Shutdown Decommissioning Activities Report and Decommissioning Cost Estimate, which describe Holtec’s decommissioning plan, schedule, and cost estimate of planned decommissioning activities for Palisades. Holtec also submitted an exemption request to allow the use of the Palisades NDT for spent fuel management and site restoration activities.

Holtec’s schedule calls for the movement of all spent nuclear fuel from the onsite spent fuel pool to dry cask storage on the Palisades ISFSI by 2025. After all spent fuel is safely moved to the ISFSI, major decommissioning work will commence in approximately 2035, allowing the NDT balance to grow.

If the transaction is completed, Palisades and Big Rock Point would join Holtec’s growing fleet of decommissioning plants. The NRC previously approved License Transfer Applications for the shutdown Oyster Creek Nuclear Generating Station in New Jersey from Exelon Corporation to Holtec and for the shutdown Pilgrim Nuclear Power Station in Massachusetts from Entergy to Holtec, and the transfer of the Indian Point ���ϳԹ��� Center from Entergy to Holtec following shutdown of its remaining unit (Indian Point Unit 3), which is scheduled for April 2021. In all cases, the NRC concluded that Holtec affiliate Holtec Decommissioning International met the regulatory, legal, technical, and financial requirements necessary to decommission those facilities.

Cautionary Note Regarding Forward-Looking Statements

In this news release, and from time to time, ���ϳԹ��� makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, Entergy’s plans and expectations with respect to the Palisades Nuclear Plant, the proposed post-shutdown sale of the Palisades Nuclear Plant, and other statements of Entergy’s plans, beliefs or expectations included in this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q, and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans, and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating, and regulatory costs and risks; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with executing on business strategies, including strategic transactions that Entergy or its subsidiaries may undertake and the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized; (h) effects of changes in federal, state, or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental, or energy policies; (i) the effects of changes in commodity markets, capital markets, or economic conditions; (j) impacts from a terrorist attack, cybersecurity threats, data security breaches, or other attempts to disrupt Entergy’s business or operations, and/or other catastrophic events; (k) the direct and indirect impacts of the COVID-19 pandemic on Entergy and its customers; and (l) the effects of technological change, including the costs, pace of development and commercialization of new and emerging technologies.

Background Information

���ϳԹ��� (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees. Additional information is available at entergy.com.

Holtec International is a privately held energy technology company with operation centers in Florida, New Jersey, Ohio, and Pennsylvania in the U.S., and globally in Brazil, Dubai, India, South Africa, Spain, U.K., and Ukraine. Holtec’s principal business concentration is in the nuclear power industry. Holtec has played a preeminent role since the 1980s by densifying wet storage in nuclear plants’ spent fuel pools deferring the need for and expense of alternative measures by as much as two decades at over 110 reactor units in the U.S. and abroad. Dry storage and transport of nuclear fuel is another area in which Holtec is recognized as the foremost innovator and industry leader with a dominant market share and an active market presence in eighteen countries. Among the Company’s pioneering endeavors are the world’s first below-ground Consolidated Interim Storage Facility being developed in New Mexico and a 160-Megawatt walk away safe small modular reactor, SMR-160. The SMR-160 is developed to bring cost competitive carbon-free energy to all corners of the earth including water-challenged regions. Holtec is also a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment such as air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. Virtually all products produced by the Company are built in its three large manufacturing plants in the U.S. and one in India. Thanks to a solid record of consistent profitability and steady growth since its founding in 1986, Holtec has no history of any long-term debt and enjoys a platinum credit rating from the financial markets. Nearly 100 U.S. and international patents protect the Company’s intellectual property from predation by its global competitors and lend predictable stability to its business base. To learn more about Holtec International, please visit .

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BUCHANAN, New York – The U.S. Nuclear Regulatory Commission today approved the application to transfer the licenses for Indian Point ���ϳԹ��� Center’s nuclear power plants Unit 1, Unit 2 and Unit 3, from ���ϳԹ��� (NYSE: ETR) subsidiaries to a Holtec International subsidiary for prompt decommissioning. The transfer of Indian Point to Holtec, currently targeted for May 2021, would occur following the satisfaction of all closing conditions, including the permanent shutdown and reactor defueling of Unit 3, which is the last operating power plant at Indian Point. Unit 3 will shut down by April 30, 2021.

Entergy and Holtec jointly filed a License Transfer Application with the NRC in November 2019, requesting approval for the transfer of Indian Point, along with its Nuclear Decommissioning Trusts (NDTs) and decommissioning liability, from current owner Entergy to Holtec.

“The NRC’s approval of the Indian Point license transfer is a critical milestone as we move closer to completing the transaction,” said Leo Denault, Entergy’s Chairman and Chief Executive Officer. “The sale of Indian Point following its permanent shutdown will benefit the community by enabling the facility to be removed and the site remediated decades sooner than otherwise thought possible. Stakeholders in the community will benefit from a dismantling and decommissioning process that can begin promptly following shutdown next year.”

In its decision, the NRC determined that Holtec possesses the required technical and financial qualifications to decommission Indian Point safely and in accordance with NRC requirements. Previously, the NRC approved two separate transfers of retired nuclear power plants to Holtec for prompt decommissioning; Holtec currently owns and is decommissioning the shutdown Oyster Creek nuclear power plant in New Jersey and the shutdown Pilgrim nuclear power plant in Massachusetts. Additionally, the NRC previously approved the license transfer of Vermont Yankee to NorthStar Group Services in support of Entergy’s effort to divest of its merchant nuclear fleet to focus on its regulated and transformation strategies.

Holtec plans to begin the decommissioning process promptly upon taking ownership, and as part of the agreement between the companies, will initially provide job opportunities for approximately 300 of Entergy’s current employees at Indian Point. Holtec also has agreed to honor the collective bargaining agreements that apply to current employees.

Separate from the NRC approval, Entergy and Holtec previously filed a petition with the New York Public Service Commission requesting a ruling disclaiming PSC jurisdiction or abstaining from review of the proposed transaction, or, in the alternative, an order approving the proposed transaction. That petition remains pending before the PSC. 

Holtec’s plan for decommissioning will result in the release for re-use of the vast majority of the site in the 2030s, with the exception of the Independent Spent Fuel Storage Installation and its security perimeter – the area where spent nuclear fuel is safely stored in dry casks until the U.S. Department of ���ϳԹ��� transfers the spent fuel offsite. As part of its plan, Holtec expects to move all of the Indian Point spent nuclear fuel into dry casks within about three years following facility shutdown in 2021. Holtec has a pending application with the NRC for a Consolidated Interim Storage Facility in New Mexico, which could eventually store spent nuclear fuel from Indian Point and other U.S. nuclear power plants.

About Entergy

���ϳԹ��� is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 8,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of $11 billion and approximately 13,600 employees.

entergy.com

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BUCHANAN, N.Y. – ���ϳԹ��� and Holtec International, through their affiliates, jointly filed a License Transfer Application today with the U.S. Nuclear Regulatory Commission, requesting approval for the transfer of the NRC licenses for the Indian Point ���ϳԹ��� Center to Holtec after the last unit permanently shuts down by April 30, 2021. Holtec plans to initiate decommissioning at Indian Point, following regulatory approvals and transaction close, as much as 40 years sooner than if Entergy continued to own the units.

“Holtec’s plan to accelerate the decommissioning schedule provides the potential for site redevelopment decades sooner than if Entergy continued to own the facility, which is good news for the local community,” said Chris Bakken, Entergy Executive Vice President Nuclear Operations and Chief Nuclear Officer. “Holtec plans to begin the decommissioning process promptly upon taking ownership, and as part of the agreement between the companies, will provide job opportunities for more than 300 of our current employees who want to remain in the region and continue to work at the site.”

The companies asked the NRC to approve the License Transfer Application by November 2020 to facilitate a timely transaction closing targeted for May 2021, which will benefit the community, employees and other interested stakeholders.

“This key regulatory filing is an important first step to beginning a new future for Indian Point and the local community,” said Holtec’s President and Chief Executive Officer Dr. Kris Singh. “By beginning decommissioning earlier, Holtec will be able to maintain and create new jobs and work towards releasing the plant site earlier so it can be repurposed and generate replacement tax revenue on an earlier schedule.”

“Holtec’s plan to accelerate the decommissioning schedule provides the potential for site redevelopment decades sooner than if Entergy continued to own the facility, which is good news for the local community.”

– Chris Bakken, Entergy Executive Vice President Nuclear Operations and Chief Nuclear Officer

The NRC previously approved applications to transfer the licenses for the shut down Oyster Creek Nuclear Generating Station (New Jersey) from Exelon Generation to Holtec and for the shut down Pilgrim Nuclear Power Station (Massachusetts) from Entergy to Holtec for decommissioning.

In addition to the federal filing, the companies today filed a petition with the New York Public Service Commission requesting a ruling disclaiming PSC jurisdiction or abstaining from review of the proposed transaction, or, in the alternative, an order approving the proposed transaction.

Holtec International is a global leader in used nuclear fuel management, with more than 100 nuclear plants relying on its nuclear fuel storage technology design and implementation. Holtec has contracted with Comprehensive Decommissioning International, LLC to perform the decommissioning, including demolition and site cleanup, at Oyster Creek, Pilgrim, and Indian Point. CDI is a joint venture company of Holtec International and SNC-Lavalin. The decommissioning experience held by Holtec and SNC-Lavalin gives CDI more than half a century of managing complex nuclear projects in the commercial and government sectors worldwide.

Holtec’s plan for decommissioning will result in the release for re-use of portions of the site in the 2030s, with the exception of the Independent Spent Fuel Storage Installation – the area where spent nuclear fuel is safely stored in dry casks until the U.S. Department of ���ϳԹ��� transfers the spent fuel offsite. As part of its plan, Holtec expects to move all of the Indian Point spent nuclear fuel into dry casks within about three years following facility shutdown in 2021. Holtec has a pending application with the NRC for a Consolidated Interim Storage Facility in New Mexico, which could eventually store spent nuclear fuel from Indian Point and other U.S. nuclear power plants.

Cautionary Note Regarding Forward-Looking Statements

In this news release, and from time to time, ���ϳԹ��� makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other things, Entergy’s plans and expectations with respect to the Indian Point ���ϳԹ��� Center, the proposed post-shutdown sale of the Indian Point ���ϳԹ��� Center, and other statements of Entergy’s plans, beliefs or expectations included in this news release. Except to the extent required by the federal securities laws, Entergy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including (a) those factors discussed elsewhere in this news release and in Entergy’s most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with (1) rate proceedings, formula rate plans and other cost recovery mechanisms, including the risk that costs may not be recoverable to the extent anticipated by the utilities and (2) implementation of the ratemaking effects of changes in law; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) risks associated with operating nuclear facilities, including plant relicensing, operating and regulatory costs and risks; (e) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (f) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (g) risks and uncertainties associated with strategic transactions that Entergy or its subsidiaries may undertake, including the risk that any such transaction may not be completed as and when expected and the risk that the anticipated benefits of the transaction may not be realized; (h) effects of changes in federal, state or local laws and regulations and other governmental actions or policies, including changes in monetary, fiscal, tax, environmental or energy policies; and (i) the effects of technological changes and changes in commodity markets, capital markets or economic conditions; and (j) impacts from a terrorist attack, cybersecurity threats, data security breaches or other attempts to disrupt Entergy’s business or operations, and other catastrophic events.

Background Information

���ϳԹ��� (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy has annual revenues of $11 billion and approximately 13,500 employees. Additional information is available at entergy.com.

Holtec International is a privately held energy technology company with operation centers in Florida, New Jersey, Ohio, and Pennsylvania in the U.S., and globally in Brazil, Dubai, India, South Africa, Spain, U.K., and Ukraine. Holtec’s principal business concentration is in the nuclear power industry. Holtec has played a preeminent role since the 1980s by densifying wet storage in nuclear plants’ spent fuel pools deferring the need for and expense of alternative measures by as much as two decades at over 110 reactor units in the U.S. and abroad. Dry storage and transport of nuclear fuel is another area in which Holtec is recognized as the foremost innovator and industry leader with a dominant market share and an active market presence in eighteen countries. Among the Company’s pioneering endeavors are the world’s first below-ground Consolidated Interim Storage Facility being developed in New Mexico and a 160-Megawatt walk away safe small modular reactor, SMR-160. The SMR-160 is developed to bring cost competitive carbon-free energy to all corners of the earth including water-challenged regions. Holtec is also a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment such as air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. Virtually all products produced by the Company are built in its three large manufacturing plants in the U.S. and one in India. Thanks to a solid record of consistent profitability and steady growth since its founding in 1986, Holtec has no history of any long-term debt and enjoys a platinum credit rating from the financial markets. Nearly 100 U.S. and international patents protect the Company’s intellectual property from predation by its global competitors and lend predictable stability to its business base. To learn more about Holtec International, please visit .

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