Skip to Main Content.
Site navigation
Fidelity.com Home
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log Out
  • Accounts & Trade
    • Portfolio Log In Required
    • Portfolio
    • AccountPositions Log In Required
    • AccountPositions
    • Trade Log In Required
    • Trade
    • Trading Dashboard Log In Required
    • Trading Dashboard Log In Required
    • Active Trader Pro
    • Transfers
    • Cash Management Log In Required
    • Cash Management
    • Bill Pay Log In Required
    • Bill Pay
    • Full View Log In Required
    • Full View
    • Security Settings Log In Required
    • Security Settings
    • Account Features Log In Required
    • Account Features
    • Statements Log In Required
    • Statements
    • Fidelity Alternative Investments Program Log In Required
    • Tax Forms & Information
    • Retirement Distributions Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • Fidelity Rewards+registered trademark Log In Required
    • New Account Checklist Log In Required
    • Lending Solutions-Line of Credit Log In Required
    • Refer a Friend
  • Planning & Advice
    • What We Offer
    • Build Your Plan
    • My Goals
    • Financial Basics
    • Building Savings
    • Robo Investing Plus Financial Advice
    • Wealth Management
    • Find an advisor
    • Retirement
    • Life Events
    • Saving & Investing for a Child
    • Charitable Giving
  • News & Research
    • News
    • Wealth Management Insights
    • Watch List Log In Required
    • Quotes
    • Quotes
    • Alerts Log In Required
    • Mutual Funds
    • Stocks
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Markets & Sectors
    • IPOs
    • Annuities
    • Learning Center
    • Notebook
    • Notebook
  • Investment Products
    • Mutual Funds
    • Retirement & IRAs
    • Stocks and Trading
    • Crypto
    • Direct Indexing
    • Fixed Income, Bonds & CDs
    • ETFs
    • Options
    • Sustainable Investing
    • Cash Management & Credit Cards
    • Managed Accounts
    • 529 College Savings
    • Health Savings Accounts
    • Annuities
    • Life Insurance & Long Term Care
  • Why Fidelity
    • The Fidelity Advantage
    • Planning & Advice
    • Trading
    • Straightforward Pricing
    • Insights & Tools
    • Security & Protection
    • Marketplace Solutions
    • About Fidelity
    • Careers
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log In
  • Customer Service
  • Profile
  • Open an Account
  • Virtual Assistant
  • Log Out
Content and data provided by various third parties and Fidelity − Terms of Use
  • Research >
  • Stocks >
  • News & Events >

Stock Details


  • Snapshot
  • Detailed Quote
  • Advanced Chart &
    Technical Analysis Opens in New Window
  • News & Events
  • Compare
  • Analyst Opinions
  • Research Reports
  • Key Statistics
  • Earnings
  • Dividends
  • Ownership & Insiders
  • Financial Statements
  • SEC Filings

RELATED RESOURCES

  • Stock Research Overview
  • Stock Screeners
  • Markets & Sectors
  • Fidelity Learning Center Opens in New Window
Print Format
Change Text Size:
  • Default text sizeA
  • Larger text sizeA
  • Largest text sizeA

In blow to Biden climate goals, Entergy shuts nuclear power plant

BY Reuters
— 6:39 PM ET 05/20/2022

By Timothy Gardner

May 20 (Reuters) - Entergy Corp (ETR) said on Friday it has permanently shut a nuclear power station in Michigan despite a Biden administration plan to rescue plants like it because they generate electricity virtually free of carbon emissions.

Entergy (ETR) closed the 800-Megawatt Palisades plant in Michigan that had operated for more than 50 years.

"After careful monitoring, operators made the conservative decision to shut down the plant early due to the performance of a control rod drive seal," Entergy (ETR) said in a statement about the plant.

The plant had been to slated to shut on May 31, but efforts had been underway to save it.

White House national climate adviser Gina McCarthy has said that existing nuclear power plants will be needed to meet the Biden administration's goals on slashing greenhouse gas emissions.

The Biden administration last month launched a $6 billion program to help save nuclear plants that are suffering rising security costs and stiff competition from other electricity generation sources including natural gas and renewable energy.

The first phase of the Civil Nuclear Credit program was meant to keep Palisades and California's Diablo Canyon plant, owned by PG&E Corp (PCG), from shutting. It is uncertain whether Diablo Canyon can be saved by the program.

The plan, which had funding generated by last year's bipartisan infrastructure bill, could help save other nuclear plants instead.

With the closure, the United States will now have 92 nuclear reactors, more than any other country, but nuclear power capacity peaked in 2012.

The Department of Energy did not immediately respond to a request for comment.

Backers of the Palisades plant, which employed 600 hundred workers, had hoped another utility would buy it to save it from closing.

"We've not gotten any proposals" to buy Palisades, Mark Sullivan, an Entergy (ETR) spokesperson, told Reuters. (Reporting by Timothy Gardner in Washington, and Ruhi Soni in Bengaluru; Editing by Maju Samuel, Bernard Orr)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

More ETR News

  • Entergy shuts down Michigan nuclear power plant
    Reuters - 5:41 PM ET 05/20/2022
  • BRIEF-Entergy Corp - Control Room Operators At Co's Palisades Power Plant Safely Removed Nuclear Reactor From Service For Final Time On May 20
    Reuters - 5:30 PM ET 05/20/2022
  • Entergy's Palisades team finishes strong as facility shuts down
    PR Newswire - 4:38 PM ET 05/20/2022
Fidelity Investments. Copyright 1998–2022 FMR LLC. 
All rights reserved. 

  • Terms of Use|
  • Privacy|
  • Security|
  • Site Map 
Close