Entergy to postpone spinoff

Entergy Corp ETR.N is likely to delay a proposed spinoff of its five nuclear-power plants into the nation's first standalone nuclear-generating company, the Wall Street Journal said.

The present financial crisis has clouded prospects for completion of the largely debt-financed transaction, the paper said in a report quoting Entergy Chief Financial Officer Leo Denault.

Last year, Entergy announced plans to transfer the five stations to a new publicly traded company, hoping to capitalize on the plants' low operating costs and carbon-free emissions.

Reuters