Entergy to continue operating Palisades Power Plant until spring 2022
Entergy plans to operate Palisades Power Plant in Covert, Michigan, until the spring of 2022, under the existing Power Purchase Agreement with Consumers Energy. "In light of the Michigan Public Service Commission's order issued September 22, which granted Consumers Energy recovery of only $136.6M of the $172M it requested for the buyout of the PPA, the parties have agreed to terminate the buyout transaction," said Charlie Arnone, site vice president and Entergy's top official at Palisades. The announcement reverses Entergy's December 2016 decision to close Palisades on October 1, 2018. The impact of the decision on free cash flow is expected to be positive $100M-$150M compared to the PPA amendment with Consumers Energy.