New York Regulators Reject Entergy Spinoff

From the Wall Street Journal:

New York regulators rejected a plan by Entergy Corp. to spin off five of its nuclear power plants Thursday, threatening the creation of the nation's first stand-alone nuclear generator.

The decision by the New York Public Service Commission is a major set back for the New Orleans-based power company in its long-sought separation of its nuclear plants that sell power at market-based prices from its regulated utility businesses. Proposed in late 2007, the spinoff was stalled first by frozen credit markets, and then more recently by New York officials challenging the financial plans and consumer benefits of the deal.

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