Confirming that the Indian Point nuclear power plant of Entergy Corporation (NYSE:ETR) in New York was safe, CEO Leo Denault said that the company has sought a 20-year extension of the license. Denault said that the two reactors were important to meet the power requirements in New York and has sought permission from the U.S. Nuclear Regulatory Commission for operation till 2033 and 2035. Governor Andrew Cuomo had asked the company to shut the plant on safety concerns when it caught fire over the last weekend. The company said that the plant was being shut for the time being as the transformers transmit power to the grid.
Denault has also clarified that Entergy was focused on replacing its obsolete plants and improve the capacities to meet the power demand. The company is also developing natural gas, nuclear and solar plants. Denault informed that the company was mulling a solar project in New Orleans, consisting of over 4,000 solar panels. They are going to launch the project in 2016 in collaboration with the city council of New Orleans. The integration of renewable energy was something that the company was looking to reach through this project to ascertain how well the concept can work.
Entergy New Orleans President and CEO Charles Rice said that the resource plan of the company was analyzing renewable resources in the city. A feasibility study will help the company determine the optimum use of battery storage to help in harsh weather conditions. Meanwhile, the company has revealed that over $250 million of its customers have saved electricity in Arkansas, Louisiana, Mississippi and Texas.
MISO estimates the net economic benefit of these four states at $730 million and $954 million last year. The savings exceeded the estimates majorly as the officials from MISO revealed that apart from Entergy, other companies were also working on reducing electricity expenditures. Louisiana’s Cleco Corp., South Mississippi Electric Power Association, Lafayette Utilities System, Louisiana Energy and Power Authority are some of the companies. Louisiana Generating and East Texas Electric Cooperative are also part of the initiative to help these states cope better.
