“Entergy is fulfilling the commitments it made to the community following the closure of the Vermont Yankee Nuclear Power Station. Vernon has always been a strong supporter of VY and home to many VY employees. We’re delighted to see this historic building put to good use by the community,” said Entergy Government Affairs Director Joe Lynch.

“Vernon is delighted to receive from Entergy the donation of the Governor Hunt House, a prominent part or our town’s history, as well as a great place to establish a community center. We hope the house will form one of the anchors of a new village center for Vernon, which the Friends of Vernon Center is working to create,” said Friends of Vernon Center President Arthur Miller.

The donation includes two vacant lots adjacent to the building. The Friends of Vernon Center will own and operate the Governor Hunt House, on behalf of the Vernon community, as a community center in which many activities can take place.��This is part of the larger mission of FVC, which is to envision, plan and promote the establishment of a village center in the Town of Vernon, Vt., for the benefit of the town’s residents and visitors.

Entergy acquired the house in 2002 when Entergy Nuclear Vermont Yankee, LLC ��purchased the adjacent Vermont Yankee plant from Vermont Yankee Nuclear Power Corp. Vermont Yankee ceased producing power in December, 2014 and was sold in January 2019 to NorthStar Group Services for decommissioning.

Under the terms of the sale to NorthStar, Entergy retained ownership of the Governor Hunt House.

Background Information

���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 nearly 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.

The Town of Vernon ( is located in Windham County, Vt. A rural, scenic community, its population was 2,206 as of the 2010 census. The town was chartered in 1672 as part of the Massachusetts Grant. In 1753, the area was granted as Hinsdale and in 1802 the Vermont legislature changed the town’s name to Vernon, reportedly at the suggestion of Lavinia Swan Hunt, Lt. Gov. Jonathan Hunt’s wife.

Friends of Vernon Center () was formed to envision, plan, and promote the establishment of a village center in Vernon, Vermont, for the benefit of the town’s residents and visitors.

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Vernon, VT – ���ϳԹ��� (NYSE:ETR) today completed the sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services, which will decommission the Vermont Yankee Nuclear Power Station site.

The sale completion is a major step toward the safe, timely and efficient decommissioning of Vermont Yankee, and is a positive outcome for the Town of Vernon, Windham County, the State of Vermont and other stakeholders. In addition, Entergy is making progress on its corporate strategy of exiting the merchant nuclear power business. The sale is a first-of-its-kind in the nuclear power industry – a permanent ownership and license transfer to a company that is slated to perform timely and efficient decommissioning and site restoration.

The NorthStar decommissioning team includes Orano USA (reactor vessel segmentation and used fuel management support), Waste Control Specialists (waste management, packaging, transport and disposal) and Burns & McDonnell (engineering and regulatory support).

Entergy and NorthStar announced the sale agreement in November 2016. The Vermont Public Utility Commission on Dec. 6, 2018 issued an order approving the sale of Entergy Nuclear Vermont Yankee and an amended Certificate of Public Good that authorizes NorthStar to own, possess the licenses for, and decommission Vermont Yankee. The U.S. Nuclear Regulatory Commission on Oct. 11, 2018 approved the transfer of Vermont Yankee’s operating licenses to NorthStar.

The transaction closed on terms consistent with the companies’ previously disclosed financial commitments and assurances, and no contribution to the nuclear decommissioning trust was required. For Entergy, the transaction will result in a pre-tax book charge to earnings in an amount that the company expects to be consistent with estimates previously disclosed. The estimated charge will be recorded in fourth quarter 2018 and will be considered a special item and excluded from operational results.

About Vermont Yankee, Entergy and NorthStar

Vermont Yankee Nuclear Power Station, a single unit boiling water reactor located in Vernon, Vermont, began commercial operation in 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002. The plant permanently ceased operations on Dec. 29, 2014.

���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 nearly 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 approximately $11 billion and more than 13,000 employees. More information is available at www.entergy.com.

NorthStar Group Services, based in New York, is the country’s most comprehensive facility and environmental solutions company, with more than $600 million in annual sales and licenses in all 50 states. NorthStar owns and maintains a large, nationwide inventory of specialized dismantling equipment and employs more than 3,000 people. More information is available at .

Previously, on October 11, the U.S. Nuclear Regulatory Commission approved the transfer of Vermont Yankee’s operating licenses to NorthStar. Entergy and NorthStar are planning to close the sale transaction in early 2019, subject to satisfaction of all closing conditions.

The PUC’s decision is another milestone toward the safe, timely, and efficient decommissioning of Vermont Yankee, which would be a positive outcome for the Town of Vernon, Windham County, the State of Vermont and other stakeholders. In addition, Entergy is continuing to fulfill its corporate strategy of exiting the merchant nuclear power business.

About Vermont Yankee, Entergy and NorthStar

Vermont Yankee, a single unit boiling water reactor located in Vernon, Vermont, began commercial operation in 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002. The plant permanently ceased operations on December 29, 2014.

���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 nearly 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 approximately $11 billion and more than 13,000 employees. More information is available at www.entergy.com and .

NorthStar, based in New York, is the country’s most comprehensive facility and environmental solutions company, with more than $600 million in annual sales and licenses in all 50 states. NorthStar owns and maintains a large, nationwide inventory of specialized dismantling equipment and employs more than 3,000 people. More information is available at .

The site’s Independent Spent Fuel Storage Installation (ISFSI) safely stores in 58 casks all the spent nuclear fuel used during the 42 years that Vermont Yankee produced electricity. Now that all fuel has been transferred to dry storage within the ISFSI, Entergy will be implementing other planned changes that will result in savings on security, personnel, and maintenance that would have been funded from Vermont Yankee’s nuclear decommissioning trust fund.

Holtec International, under Entergy’s oversight, performed the turnkey project including cask system manufacturing, ISFSI construction and spent fuel transfer to the ISFSI.

The spent fuel transfer is an important milestone in decommissioning and supports the proposed sale of Entergy Nuclear Vermont Yankee (ENVY) to subsidiaries of NorthStar Group Services Inc. for the timely decommissioning and restoration of the site, a transaction targeted to be completed this year, pending regulatory approvals.

About Vermont Yankee and Entergy

The Vermont Yankee Nuclear Power Station, a single unit boiling water reactor, began commercial operation in 1972. Entergy purchased the plant in 2002 from the Vermont Yankee Nuclear Power Corp. It permanently ceased operations on Dec. 29, 2014. At full power, Vermont Yankee generated 620 megawatts, nearly 1/3 of all electricity consumed in Vermont.

���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 nearly 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 approximately $11 billion and more than 13,000 employees. More information is available at www.entergy.com and .

The agreement and MOU are significant milestones in the approval of the proposed transaction. If the transaction is approved by the Vermont Public Utility Commission (PUC), it will accelerate the decommissioning of Vermont Yankee by decades and facilitate the eventual economic redevelopment of the site.��

The Vermont agencies signing the agreement, in whole or in part, are: the Department of Public Service (DPS), the Agency of Natural Resources (ANR), the Department of Health, and the Attorney General’s Office.�� The following parties have also signed the agreement: the Town of Vernon Planning and Economic Development Commission, the Windham Regional Commission, the Abenaki Nation of Missisquoi and the Elnu Abenaki Tribe, and the New England Coalition on Nuclear Pollution (NEC). The parties have submitted an MOU to the PUC based on the settlement agreement that reflects: (1) increased financial assurances beyond those included in the original proposal filed by Entergy and NorthStar with the PUC in December 2016 and (2) the establishment of site restoration standards to which NorthStar will adhere as it completes the decommissioning of the site.

The Vermont PUC approval of the MOU and an order approving the proposed transaction are pre-conditions to closing of the proposed transaction between Entergy and NorthStar. The companies anticipate requesting that the PUC issue its decision by July 31, 2018.�� The proposed transaction is also subject to Nuclear Regulatory Commission (NRC) approval.���� As part of the settlement, the State of Vermont and NEC have agreed to submit a notice of anticipated withdrawal of their pending requests for hearing in the NRC proceeding. If all regulatory approvals are obtained, the companies anticipate that the transaction will close by December 31, 2018. Copies of the MOU and the settlement agreement can be accessed at . Key provisions of the MOU and the settlement agreement include:

Financial Assurance

The original application reflected a number of forms of financial assurance in support of the decommissioning and restoration of the Vermont Yankee site. As part of the MOU and settlement agreement, NorthStar has agreed to provide additional financial assurance, as follows:

• An increase in its Support Agreement from $125 million to $140 million;
• The establishment of an interest-bearing escrow account that will initially be funded with $30 million and will, with additional contributions from NorthStar over time, grow to a minimum balance of $55 million. Withdrawals from this escrow account may be made only with approval from DPS and ANR;
• A $25 million NorthStar subcontractor guaranty available in the event and to the extent that all other forms of financial assurance are unavailable;
• A $30 million Pollution Legal Liability insurance product that will provide coverage for site restoration activities to address previously unknown or not fully characterized non-radiological environmental conditions identified at the VY Station site after the closing of the proposed transaction;
• A comprehensive reporting protocol that will provide appropriate state agencies with detailed information about the progress and financial status of the decommissioning project; and
• NorthStar has also agreed to engage in public process and transparency measures throughout the decommissioning process and will continue to work with stakeholders to ensure that the public remains informed about the progress at the Vermont Yankee site.

As part of the MOU and settlement agreement, Entergy has agreed to provide financial assurance in support of the transaction as follows:

• Entergy will contribute to the Site Restoration Trust (SRT) (established as a result of the 2013 settlement agreement between Entergy and the State of Vermont) an amount sufficient to bring the balance of the SRT to $60 million. Given the current SRT balance, the contribution is expected to be approximately $30 million. At the same time, ���ϳԹ��� will terminate the existing $20 million parent guaranty supporting the trust; and
• Entergy has agreed to a potential contribution of $40 million of Department of ���ϳԹ��� litigation proceeds expected in 2023 if, and only if, at that time certain decommissioning project milestones have not been met, if the cost to complete decommissioning and site restoration is expected to exceed the amount in the Nuclear Decommissioning Trust and the SRT, or if certain financial assurances have been called upon. If the conditions are met that require the contribution of the $40 million, those funds would be placed in an escrow account by NorthStar, but such funds could not be used unless all other forms of financial assurance (other than the $25 million NorthStar subcontractor guaranty) have been exhausted. NorthStar would remain liable to Entergy for the $40 million under the terms of the parties’ commercial agreement.

The terms of the MOU and settlement agreement, including the financial assurance terms discussed above, are consistent with Entergy’s previous disclosures on its Entergy Wholesale Commodities business cash flow.�� The company continues to see neutral to positive cash flow from its merchant business to its parent from 2017 to 2022.

Site Restoration Standards

The parties have agreed to detailed site restoration standards that are fully protective of the environment as well as fully protective of the health and safety of workers and the public.�� The standards to which NorthStar will adhere include the following key terms:��

• Release of the site to a radiological dose limit of 15 mrem/year from all pathways combined, with no more than 5 mrem/year from liquid effluents, with the understanding that NorthStar will attempt to attain a calculated annual 10mR TEDE All Pathways and 4mR TEDE Water residual radiation standard, unless NorthStar determines that the attainment of the latter standard would be cost prohibitive or technically infeasible because of site conditions;
• Completion of a comprehensive site investigation and any required corrective actions in accordance with ANR regulations and pursuant to a schedule developed in consultation with the Town of Vernon and approved by ANR;
• Compliance with the Vermont Radiological Health Rule intended to protect individual workers on the site and the general public outside of the Vermont Yankee property;
• Submission of plans (1) to perform groundwater sampling of non-radiological contamination, (2) to characterize below-grade structures that NorthStar proposes to leave in place, (3) for any use of concrete as fill at the site, and (4) for any use of off-site materials proposed to be used as fill on site, including a plan to characterize off-site materials;
• For applicable segments of the property, and upon approval of an institutional control plan by ANR, NorthStar will remediate the site to comply with environmental standards applicable to industrial sites. If NorthStar does not receive approval for an institutional control plan with respect to specific segments of the site, it shall remediate those segments to comply with standards applicable to residential sites;
• Removal of all above-ground structures at the site, other than the Independent Spent Fuel Storage Installation (ISFSI) and associated security facilities, the VELCO switchyard, the administrative office building known as the Plant Support Building, and the portion of the railroad spur that is able to be released for unrestricted use from the NRC-issued Vermont Yankee operating license; and
• Removal of all underground structures at the site — including, without limitation, building foundations, buried piping, and contained piping — to a depth of 4 feet below ground surface and to a greater depth wherever required to meet the site release standards described in the agreement. Asbestos-containing material shall be removed regardless of depth.

Under Entergy’s original schedule, as outlined in its Post Shutdown Decommissioning Activities Report filed with the NRC in December 2014, Entergy expected to initiate decontamination and dismantlement of the Vermont Yankee site in 2068, with projected completion of both decommissioning and site restoration by 2075.�� Under the proposed transaction, NorthStar has committed to initiate decontamination and dismantlement by 2021 (and potentially as early as 2019) and to complete decommissioning and restoration of the Vermont Yankee site, with the exception of the ISFSI and other structures identified above, by 2030 (and potentially as early as 2026).

About Vermont Yankee, NorthStar and Entergy

The Vermont Yankee Nuclear Power Station, a single unit boiling water reactor, began commercial operation in 1972. Entergy purchased the plant in 2002 from the Vermont Yankee Nuclear Power Corp. It permanently ceased operations on December 29, 2014.�� At full power, Vermont Yankee supplied nearly one-third of all electricity consumed in Vermont. More information is available at www.entergy.com and .

NorthStar, based in New York, is the world leader in facility decommissioning with turnkey capabilities to complete license termination and site restoration.��Key partners include Orano (formerly AREVA), Burns & McDonnell and Waste Control Specialists (WCS).��WCS is the nation’s only licensed disposal facility for Class A, B and C low-level radioactive waste at its state of the art facility in Andrews County, Texas.��NorthStar and WCS are portfolio companies of leading mid-market private equity firm JF Lehman & Company.

���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 nearly 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 approximately $11 billion and more than 13,000 employees.

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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 Vermont Yankee Nuclear Power Station and Entergy’s merchant generation business, 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) nuclear plant relicensing, operating and regulatory costs and risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (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, during the periods covered by the forward-looking statements.

VERNON, Vermont – Entergy Corp. (NYSE: ETR) announced today an agreement to sell Entergy Nuclear Vermont Yankee and transfer the US Nuclear Regulatory Commission licenses to subsidiaries of NorthStar Group Services, Inc. to accelerate decommissioning and site restoration by decades. In addition, Entergy announced plans to accelerate the transfer of all spent nuclear fuel to dry cask storage at the Vermont Yankee Nuclear Power Station, from 2020 to 2018.

The sale of Entergy Nuclear Vermont Yankee (ENVY) is subject to closing conditions, including approval by the NRC and the Vermont Public Service Board. Entergy and NorthStar will ask the Public Service Board to approve proposed site restoration standards that are generally consistent with those of other regional decommissioning projects. The companies anticipate that the transaction will close by the end of 2018.

“By accelerating decommissioning, we are fulfilling a commitment we made in 2013 to decommission Vermont Yankee as soon as reasonably possible,” said Bill Mohl, President, Entergy Wholesale Commodities. “Decommissioning and site restoration, drawing on NorthStar’s expertise, will provide economic development for the region.”

Mohl added, “For Entergy, this transaction enables us to manage financial risk and reduce our company’s merchant power footprint.”

NorthStar, based in New York, is one of the premier US dismantling and remediation companies and is partnering through a subsidiary with industry leaders AREVA, Waste Control

Specialists and Burns & McDonnell to perform specialized services drawing on each company’s core competencies. The NorthStar team members have collectively worked on more than 300 nuclear and non-nuclear power plant projects over the past 15 years and bring deep expertise in complex and specialized tasks such as reactor vessel segmentation, waste packaging/transportation/disposal, environmental remediation, site closure and spent fuel management.

“Our in-house expertise, combined with the proven track record of our partners, provides the complete package of skills needed to ensure the timely, safe, cost-efficient decommissioning and restoration of the Vermont Yankee site,” said Scott State, NorthStar’s chief executive officer. “Our primary objective is to complete the decommissioning of the non-Independent Spent Fuel Storage Installation portion of the site decades earlier than originally planned so that a majority of Vermont Yankee can be re-developed to promote business for the region.”

Under Entergy’s original schedule, as outlined in its Post Shutdown Decommissioning Activities Report filed with the NRC, Entergy expected to initiate decontamination and dismantlement in 2068, with projected completion of both decommissioning and site restoration by 2075. Under the agreement with Entergy, NorthStar has committed to initiate decontamination and dismantlement by 2021 and to complete decommissioning and restoration of the Vermont Yankee site (with the exception of the ISFSI), by 2030. Thereafter, NorthStar will continue to operate and maintain the ISFSI until the US Department of ���ϳԹ��� fulfills its statutory and contractual obligations to remove all of the spent nuclear fuel from Vermont Yankee. NorthStar will then decommission the ISFSI, terminate the NRC license and complete site restoration.

Holtec International, the manufacturer of the dry storage systems used at Vermont Yankee, submitted license amendment requests to the NRC earlier this year, which if approved, will support complete transfer of all of Vermont Yankee’s spent nuclear fuel to dry storage by the end of 2018.

Financial Information

As consideration for its interest in ENVY, Entergy will receive nominal cash consideration and a promissory note payable to Entergy in an amount equal to the amount owed at the time of closing under a credit facility to finance Vermont Yankee’s dry fuel storage costs, which facility will be either assumed or refinanced by an Entergy subsidiary at or before the closing. The transfer of ENVY to NorthStar will include the transfer of ENVY’s nuclear decommissioning trust and its obligations for spent fuel management and decommissioning. As a result, the nuclear decommissioning trust and associated asset retirement obligation will be removed from Entergy’s balance sheet at closing. The transaction is expected to result in a loss at closing, the amount of which cannot be determined at this time, based on the difference between Entergy’s book basis in ENVY at the time of closing and the sale price plus any agreed adjustments. Subject to satisfaction or waiver of the conditions to closing, the transaction is expected to be completed in late 2018. On an ongoing basis, the sale is expected to be mildly accretive to operational results once the transaction is completed, primarily due to the elimination of future decommissioning accretion expenses.

A contractually agreed minimum level of funding at close in Vermont Yankee’s nuclear decommissioning trust (“NDT”) is a condition to close.�� The amount of any contribution to the NDT that may be required to meet the minimum funding level is highly uncertain and will depend on, among other things, the level of future reimbursements from the NDT for work performed prior to closing and the market performance of the investments in the NDT through closing.����However, assuming a December 31, 2018, closing and a level of expenditures from the NDT for work prior to the closing that is consistent with Entergy’s current estimates, Entergy estimates that no contribution would be required to meet this condition if the rate of return on the NDT assets from September 30, 2016, through closing is at least 5.5% per annum and that a contribution of approximately $10 million to $12 million would be required for every 1.0% by which the rate of return falls below 5.5% over such period.�� Entergy is not required to make any contribution to the NDT to cause this condition to be satisfied, but would have the option to do so prior to closing.

About Vermont Yankee and Entergy

The Vermont Yankee Nuclear Power Station, a single unit boiling water reactor, began commercial operation in 1972. Entergy purchased the plant in 2002 from the Vermont Yankee Nuclear Power Corp. It permanently ceased operations on Dec. 29, 2014. At full power, Vermont Yankee supplied nearly one-third of all electricity consumed in Vermont. More information is available at www.entergy.com and .

Entergy, based in New Orleans, 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 nearly 10,000 megawatts of nuclear power. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11.5 billion and more than 13,000 employees.

About the NorthStar Team

NorthStar is the world’s most comprehensive facility and environmental solutions company with over $600 million in annual sales and licensed in all 50 states. The company was ranked the #1 Demolition & Wrecking Contractor and #1 Asbestos Abatement Contractor in the USA by Engineering News-Record in 2016. NorthStar owns and maintains a large, nationwide inventory of specialized dismantling equipment and employs over 3,000 people. NorthStar’s team includes:

• AREVA, based in Paris with US decommissioning headquarters in Washington, DC, will be responsible for reactor vessel and internals segmentation and used nuclear fuel management support, including waste disposal transportation services. AREVA is a world leader in nuclear decommissioning services and used nuclear fuel management representing10,000 employees worldwide and 600 US employees.
• Waste Control Specialists (WCS) will be responsible for waste management, packaging, transportation and disposal. Based in Dallas, WCS operates a radioactive waste disposal site in Andrews, Texas, that is the most comprehensive solution in the nation for low-level radioactive waste. WCS and partners AREVA and NAC International have submitted an application to the NRC to construct and operate a Consolidated Interim Storage Facility for spent fuel at its Andrews, Texas site.
• Burns & McDonnell, based in Kansas City, Mo., will provide engineering and regulatory support. Burns & McDonnell is a global full service engineering and environmental solutions firm with 5,500 employees worldwide

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 Vermont Yankee Nuclear Power Station, 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) nuclear plant relicensing, operating and regulatory risks; (c) changes in decommissioning trust fund values or earnings or in the timing or cost of decommissioning Entergy’s nuclear plant sites; (c) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (d) 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 and (e) the effects of technological changes and changes in economic conditions and conditions in commodity and capital markets during the periods covered by the forward-looking statements.

-30-

According to VY Security Manager Patrick Ryan, outsourcing plant security is part of the decommissioning plan at Vermont Yankee.

“Given the size of the security force at VY, outsourcing will greatly reduce administrative burden over the next four years,” said Ryan, “However it is important to reinforce that one of our top priorities continues to be the safety and security of our facility.”

The concept of contract security was part of the decommissioning cost estimate presented in 2014. VY is required to meet the security requirements set forth by the U.S. Nuclear Regulatory Commission and other agencies, including the U.S. Department of Homeland Security and the FBI. These security measures have been designed to protect the facility, its employees and the public.��

The NRC requires all nuclear power plants to employ a physical protection program that includes intrusion detection and alarm systems, an armed response security force to defend the facilities and other measures not shared with the public.

Securitas has accumulated extensive experience in the nuclear industry. In particular, Securitas has provided security oversight during the transfer of spent fuel from the spent fuel pool to dry storage at Connecticut Yankee, Yankee Rowe, Maine Yankee, Big Rock Point, La Crosse, and Zion Nuclear Power Station. Several VY security management employees will maintain oversight of the SCIS security workforce for ENVY.

“Securitas is widely considered the industry leader in providing total security solutions at decommissioning nuclear power reactor sites,” said Ryan. “Given that all current VY security employees are expected to be retained by SCIS, we are confident that safety will remain a top VY priority and that decommissioning will be done in a safe and environmentally responsible manner.”

“SCIS Nuclear has been a trusted security partner in the nuclear industry; committed to enhancing the safety, security and success of our clients. In fact, SCIS has led decommissioning and fuel transfer activities at more than half of the Independent Spent Fuel Storage Installation locations in the U.S.,” said Ron Hickie, SCIS president. “We look forward to working with Entergy in managing dynamic staffing requirements, providing industry tested training, overseeing complex fuel moves and maintaining a professional, engaged security organization.”

���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 nearly 10,000 megawatts of nuclear power. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11.5 billion and more than 13,000 employees.

For more information about decommissioning, visit .

www.entergy.com

The plant’s ability to transfer all spent fuel to two Independent Spent Fuel Storage Installation pads by the end of 2020 depends on obtaining a Certificate of Public Good from the VT Public Service Board that authorizes ENVY to begin construction of the second storage pad in early-2016.�� ENVY expects to complete construction of the second pad in 2017.

The plant’s dry storage system vendor has indicated that it will be able to accelerate the delivery schedule of dry fuel storage equipment as well as ensure the availability of qualified personnel to facilitate the earlier start of the transfer of spent nuclear fuel from the spent fuel pool to dry storage.

While certain costs would be incurred earlier than originally planned, the overall cost of the dry storage project would remain the same. Starting the campaign in 2017 is a safe and efficient option for completing the transfer of all spent nuclear fuel to dry storage by the end of 2020.

ENVY has committed to fund the approximately $145 million project, which includes the construction of the second pad, procurement of dry fuel storage systems, and transfer of the fuel from the spent fuel pool to dry storage, from external credit lines, rather than from the Nuclear Decommissioning Trust Fund.�� This is the most cost effective option that provides the timely transfer of all spent nuclear fuel to dry storage while optimizing growth of the Nuclear Decommissioning Trust Fund.

For more information about decommissioning, visit

���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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $12 billion and approximately 13,000 employees.

Montpelier, VT��– Gov. Peter Shumlin, Attorney General Bill Sorrell, and Bill Mohl, President of Entergy Wholesale Commodities, today announced a settlement agreement between the State and the owner and operator of the Vermont Yankee Nuclear Power Station, Entergy Nuclear Vermont Yankee, LLC and Entergy Nuclear Operations, Inc. (Entergy VY). The Agreement brings more certainty to the plant’s operation through 2014 and its later transition — including commitments related to economic development, timely decommissioning, and site restoration — and helps set a path for a constructive and transparent working relationship between Entergy VY and the State of Vermont to facilitate the resolution of longer term issues in the coming months.

The agreement resolves all ongoing litigation between the State and Entergy VY, and provides a path to resolve proceedings at the Public Service Board (the Board), subject to the Board’s approval. Under the terms of the agreement, Entergy VY will provide $10 million in economic development for Windham County and $5.2 million in clean energy development support for Windham County and elsewhere, as well as a transitional $5 million payment to the State for calendar year 2015. Entergy VY will also set aside a new $25 million fund to ensure the site is restored after decommissioning. In exchange, the State has agreed to support Entergy VY’s pending request before the Board for a Certificate of Public Good (CPG) to operate for only one additional year, through the end of 2014, and to resolve all other outstanding lawsuits related to the plant.

In addition to agreements related to the CPG proceeding, the agreement also sets a path for decommissioning Vermont Yankee as promptly as funds in the Nuclear Decommissioning Trust allow, rather than delaying decommissioning for up to 60 years regardless of fund adequacy as would otherwise be permitted under the Nuclear Regulatory Commission (NRC) SAFSTOR guidelines. Entergy VY also commits in the agreement to prepare a site assessment and cost study by the end of 2014, two years earlier than NRC rules otherwise would require, to help provide greater certainty regarding the plant’s decommissioning and related activities.

“Vermonters know that I worked for many years to meet the promise made to Vermont when it was constructed that the plant be closed on schedule in 2012,” Gov. Shumlin said. “Now that Entergy VY has agreed to shut down the plant at the end of next year, I am pleased we have stopped the fighting and are instead focused on ways the State and Entergy VY can work together to ease the transition for Windham County and get the plant dismantled and site restored without unnecessary delay.”

Gov. Shumlin also acknowledged the difficulty of the plant’s closure for the towns surrounding the plant and for the employees of Vermont Yankee, of which approximately 220 are Vermont residents.

“I know that, no matter how much some may be gratified that Vermont Yankee will close, Windham County and the workers at the plant will feel deeply the effects of this closure,” the Governor said. “That is why we sought in this agreement significant new commitments from Entergy VY to help the transition. The agreement will bring over $15 million to help support economic development in the area and clean energy projects in Windham County and elsewhere. These funds paid and other agreements by Entergy VY will help ease the effects of the closure while helping promote clean, renewable energy projects.”

Attorney General Bill Sorrell led the State’s opposition to Entergy VY’s lawsuits in federal court and expressed satisfaction that this agreement puts an end to those cases while also protecting Vermont’s interests going forward.

“Given Entergy’s decision to close Vermont Yankee next year, it’s time to put the court fights behind us and plan for the future. This Agreement will end all of the current legal disputes with Entergy VY so that we can focus on the significant issues ahead regarding decommissioning and site restoration,” said Sorrell. “While there are still significant unknowns and potential issues on which Entergy VY and the State will have to work hard in the future to find common ground, I am gratified that this agreement makes clear Entergy VY’s intention to decommission the plant without unnecessary delay, so we avoid 60 years of SAFESTOR, while also protecting Vermont’s rights in the years ahead.”

“I am pleased we were able to put the past behind us and work constructively with the State to gain some certainty for Vermont Yankee’s workers and communities surrounding the plant,” said Bill Mohl. “Our agreement today is guided by principles that reflect Entergy VY’s desire for spent nuclear fuel to be moved from the spent fuel pool to dry cask storage in a timely manner, and that the decommissioning process should occur without unreasonable delay as soon as there are sufficient funds in the Nuclear Decommissioning Trust to complete decommissioning and remaining spent fuel management activities. This agreement makes clear that Vermonters need not be concerned that Entergy VY will delay decommissioning and related activities longer than necessary once we determine that the decommissioning trust fund has adequate money to complete these tasks.”

“While we will need to continue to work with the State as we assess the site regarding the details of how this would occur and the methods to accomplish this result, we are nonetheless committed to these principles,” he added. “Accordingly, it is Entergy VY’s intent to work to move all fuel from storage in the VY Station’s spent fuel pool to dry cask storage promptly over the coming years, and to put a plan in place that should make it possible to have the necessary approvals to move the spent fuel to dry cask by the end of 2021. By the end of March of next year, Entergy VY will share with the State its estimated schedule to accomplish this goal for spent fuel. Entergy VY will also seek a CPG from the Board for an additional or expanded spent fuel storage pad at the VY Station no later than June 30, 2014, to accommodate all of the fuel in the pool.”

Separately, in recognition of the years of work and discussion ahead regarding the decommissioning of the VY plant, the Governor called upon the legislature to expand the role of the Vermont State Nuclear Advisory Panel (VSNAP) to include additional citizen members and to include review of and comment upon decommissioning within the panel’s purview to help inform the public throughout the decommissioning process as it proceeds. The Governor also noted that Senator Leahy, Senator Sanders, and Congressman Welch have been briefed on the agreement and expect to follow closely Entergy VY’s post-closure activity, and to work with the State and Entergy VY where possible on issues related to federal oversight and spent fuel cost reimbursement. Finally, the Governor said that the Department of Environmental Conservation would seek technical assistance from the Environmental Protection Agency as needed for post-closure activities in the coming years.

Today’s agreement specifically provides:

• Dismissal of pending federal litigation, including potential petitions for Supreme Court review and Entergy VY’s attorney’s fees petition;
• State support for issuance of a CPG by the Board for operation of the plant through the current fuel cycle, expected to end by the end of 2014;
• Agreement to resolve all other Board and related Vermont Supreme Court litigation between the parties upon issuance of a CPG;
• Agreement that Entergy VY will operate the VY Station in accordance with its existing National Pollution Discharge Elimination System (NPDES) permit, but that Entergy VY and the Vermont Agency of Natural Resources (ANR) also agree to continue to pursue issues related to Entergy VY’s thermal discharge through ANR’s NPDES permitting process, in accordance with state and federal law;
• Agreement to the principles that spent nuclear fuel should be moved from the spent fuel pool to dry cask storage in a timely manner and that to facilitate the prompt economic redevelopment of the VY Station site, the decommissioning process should occur without unreasonable delay;
• Agreement that Entergy VY will make a filing with the NRC for authority to begin radiological decommissioning within four months after it has made a reasonable determination that the funds in the Nuclear Decommissioning Trust are adequate to complete decommissioning and remaining spent fuel management activities that the federal government has not agreed to reimburse. In addition, once this authority is received from the NRC, Entergy VY will promptly commence, pursue and complete as soon as reasonably possible radiological decontamination and dismantling activities;
• Agreement by Entergy VY to prepare two years earlier than required by NRC regulations a site-specific cost evaluation study and site assessment related to all plant conditions and to decommissioning, including an evaluation of the costs of prompt decommissioning;
• Acknowledgment of state jurisdiction over site restoration after radiological decommissioning is complete and commitment to negotiate terms of site restoration which address removal of structures and level of radiological exposure after site restoration is complete;
• Agreement to seek from NRC the release of portions of the site for reuse as appropriate, and agreement to give the State a right of first refusal to purchase the site or any portion thereof as may become available;
• Payments to the State as follows:
  • $5.2 million for the Clean ���ϳԹ��� Development Fund (CEDF), at least 50 percent of which will be used under CEDF criteria for renewable energy projects in or benefitting Windham County
  • $10 million for economic development in Windham County, payable $2 million per year for 5 years
  • $5 million for transitional payments to the Tax Department in 2015, after cessation of operations, to ensure that the State has an opportunity to evaluate and implement any appropriate taxation related to the site thereafter; and
• Agreement to create a new Site Restoration Trust through initial payments totaling $25 million ($10 million in year one, and $5 million for three years thereafter), plus an additional parent guaranty, to ensure that separate funds are available if needed to return the site to a greenfield so that the site is available for re-use without restriction.

The Agreement is contingent upon approval of a CPG by the Board by March 31, 2014, and it is anticipated the Board will allow for and want parties in the current proceedings to comment on a Memorandum of Understanding (MOU) being submitted to the Board today.

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NEW ORLEANS��– ���ϳԹ��� (NYSE:��ETR) today said it plans to close and decommission its Vermont Yankee Nuclear Power Station in��Vernon, Vt. The station is expected to cease power production after its current fuel cycle and move to safe shutdown in the fourth quarter of 2014. The station will remain under the oversight of the Nuclear Regulatory Commission throughout the decommissioning process.

“This was an agonizing decision and an extremely tough call for us,” said��Leo Denault, Entergy’s chairman and chief executive officer. “Vermont Yankee has an immensely talented, dedicated and loyal workforce, and a solid base of support among many in the community. We recognize that closing the plant on this schedule was not the outcome they had hoped for, but we have reluctantly concluded that it is the appropriate action for us to take under the circumstances.”

The decision to close Vermont Yankee in 2014 was based on a number of financial factors, including:

• A natural gas market that has undergone a transformational shift in supply due to the impacts of shale gas, resulting in sustained low natural gas prices and wholesale energy prices.
• A high cost structure for this single unit plant. Since 2002, the company has invested more than��$400 million��in the safe and reliable operation of the facility. In addition, the financial impact of cumulative regulation is especially challenging to a small plant in these market conditions.
• Wholesale market design flaws that continue to result in artificially low energy and capacity prices in the region, and do not provide adequate compensation to merchant nuclear plants for the fuel diversity��benefits they provide.

Making the decision now and operating through the fourth quarter of 2014 allows time to duly and properly plan for a safe and orderly shutdown and prepare filings with the NRC regarding shutdown and decommissioning. Entergy will establish a decommissioning planning organization responsible for planning and executing the safe and efficient decommissioning of the facility. Once the plant is shut down, workers will de-fuel the reactor and place the plant into SAFSTOR, a process whereby a nuclear facility is placed and maintained in a condition that allows it to be safely secured, monitored and stored.

“We are committed to the safe and reliable operation of Vermont Yankee until shutdown, followed by a safe, orderly and environmentally responsible decommissioning process,” Denault said.

Commenting on the future of nuclear power, Denault said: “Entergy remains committed to nuclear as an important long-term component of its generating portfolio. Nuclear energy is safe, reliable, carbon-free and contributes to supply diversity and energy security as part of a balanced energy portfolio.”

Financial Implications

Entergy plans to recognize an after-tax impairment charge of approximately��$181 million��in the third quarter of 2013 related to the decision to shut down the plant at the end of this current operating cycle. In addition to this initial charge, Entergy expects to recognize charges totaling approximately��$55 to $60 million��associated with future severance and employee retention costs through the end of next year. These charges will be classified as special items, and therefore, excluded from operational results.

The company noted that the estimated operational earnings contribution from Vermont Yankee was expected to be around breakeven in 2013, and generally declining over the next few years. As a result of this decision and based on continuing operations into fourth quarter 2014, the estimated operational earnings change, excluding these special items, is expected to be modestly accretive within two years after shutdown, and cash flow is expected to increase approximately��$150 to $200 million��in total through 2017, compared to Vermont Yankee’s continued operation.

Regarding decommissioning, assuming end of operations in fourth quarter 2014,��the amount required to meet the NRC minimum for decommissioning financial assurance for license termination is��$566 million. The Vermont Yankee decommissioning trust had a balance of approximately��$582 million��as of��July 31, 2013, excluding the��$40 million��guarantee by ���ϳԹ��� to satisfy NRC requirements following the 2009 review of financial assurance levels. Filings with the NRC for planned shutdown activities will determine whether any other financial assurance may be required and will specifically address funding for spent fuel management, which will be required until the federal government takes possession of the fuel and removes it from the site, per its current obligations.

Vermont Yankee, a single unit boiling water reactor, began commercial operation in 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002. In��March 2011, the NRC renewed the station’s operating license for an additional 20 years, until 2032.

Additional information regarding today’s announcement is available in the Frequently Asked Questions section of��www.entergy.com.

���ϳԹ���, which celebrates its 100th birthday this year, 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 more than 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in��Arkansas,��Louisiana,��Mississippi��and��Texas.

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Additional information can be accessed online at
www.entergy.com.

In this news release, and from time to time, Entergy makes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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 involve a number of risks and uncertainties. There are factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including (a) those factors discussed in this release and in: (i) Entergy’s Form 10-K for the year ended��Dec. 31, 2012, (ii) Entergy’s Form 10-Q for the quarters ended��March 31, 2013��and��June 30, 2013��and (iii) Entergy’s other reports and filings made under the Securities Exchange Act of 1934; (b) uncertainties associated with rate proceedings, formula rate plans and other cost recovery mechanisms; (c) uncertainties associated with efforts to remediate the effects of major storms and recover related restoration costs; (d) nuclear plant relicensing, operating and regulatory risks, including any changes resulting from the nuclear crisis in Japan following its catastrophic earthquake and tsunami; (e) legislative and regulatory actions and risks and uncertainties associated with claims or litigation by or against Entergy and its subsidiaries; (f) conditions in commodity and capital markets during the periods covered by the forward-looking statements, in addition to other factors described elsewhere in this release and subsequent securities filings and (g) risks inherent in the proposed spin-off and subsequent merger of Entergy’s electric transmission business with a subsidiary of ITC Holdings Corp. Entergy cannot provide any assurances that the spin-off and merger transaction will be completed and cannot give any assurance as to the terms on which such transaction will be consummated. The spin-off and merger transaction is subject to certain conditions precedent, including regulatory approvals.