Entergy introduces Enexus Energy, EquaGen as spinoff plans continue

By Lisa Kerner

Charlotte, N.C., April 25 - Entergy Corp. said the new publicly traded nuclear power company it plans to spin off later this year will operate under the name Enexus Energy Corp.

The new joint venture to be co-owned by Entergy and Enexus will be known as EquaGen LLC, an Entergy news release stated.

Once the spinoff is complete, Jackson, Miss.-based Enexus will own six wholesale reactors that have been part of Entergy's 11-reactor fleet, and EquaGen will operate the six reactors, according to the news release.

Entergy president Richard J. Smith will become president and chief executive officer of Enexus. Michael Kansler will remain Entergy's chief nuclear officer and will also take on the role of EquaGen CEO.

Previously, the spinoff company was known in government filings as SpinCo or NewCo, while EquaGen was known simply as JV.

Entergy said the new company names were selected from a list of more than 1,500 possibilities.

In November, Entergy announced plans to separate the non-utility nuclear business from Entergy's rate-regulated utility business through a tax-free spinoff of the non-utility nuclear business.

In addition to having operating responsibility for the Enexus reactors, EquaGen is expected to provide nuclear management and technical services to Entergy's nuclear plants and to continue to supply contracted services to the Nebraska Public Power District for the Cooper Nuclear Station, the news release said.

Entergy is an integrated energy company based in New Orleans.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.