New York Utility regulators have approved the proposed sale of the FitzPatrick Nuclear Power Plant in Oswego County, the Associated Press reported.
Entergy Corp. seeks to sell the plant to Exelon Corp. for $110 million.Even with the utility approval, the sale still needs approval from federal regulators to proceed.
The state of New York has authorized up to $7.6 billion in ratepayer subsidies to keep FitzPatrick, as well as two other nuclear plants in the state, operational. Entergy announced in 2015 it planned to shut down and decommission the plant, though the utility later pushed back the shutdown date to January 2017.
Owners of other power plants in the state have sued to block the subsidies, saying they’re unfair and illegal.Entergy has said if the sale doesn’t go through, Entergy will move forward with the shutdown.