NRC Approves Entergy Spinoff

Law360, New York (July 29, 2008, 12:00 AM EDT) -- The U.S. Nuclear Regulatory Commission on Monday approved Entergy Corp.'s plan, announced last November, to spin off its nonutility nuclear energy operations.

Under the plan, Entergy will hand over the operations of nuclear plants in Plymouth, Mass.; Oswego and Buchanan, N.Y.; Covert, Mich.; and Vernon, Vt., to Enexus Energy Corp., which had been referred to as SpinCo in earlier announcements. Entergy announced the name change in April.

According to Entergy's second-quarter earnings report, released Tuesday, the spinoff should be complete sometime during the fourth quarter....
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