NRC STAFF APPROVES TRANSFER OF OPERATING LICENSES
FOR INDIAN POINT 1 AND 2 TO ENTERGY CORPORATION

The Nuclear Regulatory Commission staff has approved the transfer of the operating licenses for Indian Point Nuclear Generating Units 1 and 2 from Consolidated Edison Company of New York, Inc., to subsidiaries of Entergy Corporation. Indian Point 1 and 2 are located in Buchanan, N.Y.

As provided by NRC regulations, the staff's approval of the license transfers becomes effective immediately, even though the Commission granted hearing requests on August 22, from the Citizens Awareness Network and jointly from the Town of Cortlandt Manor, N.Y., and the Hendrick Hudson School District. The groups sought hearings regarding Entergy's financial ability to operate and maintain the Indian Point plant safely. The Commission's August 22 order lays out a schedule for the hearing which could result in a Commission decision in early 2002. The Commission's decision could reverse the action now being authorized by the staff.

On December 12, 2000, Consolidated Edison and Entergy jointly submitted an application to the NRC requesting approval for the license transfers. The key issues considered by the NRC included the prospective licensees' technical and financial qualifications to maintain Indian Point 1, which shut down permanently in 1974, and safely operate Indian Point 2, as well as decommissioning funding assurance.

A copy of the NRC staff's approval letter and accompanying safety evaluation report will be available on the NRC's web site at: http://www.nrc.gov/NRC/REACTOR/IP/index.html under the heading "News & Correspondence."

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Thursday, February 22, 2007