Palisades Nuclear Plant Retirement Frees Investment for CMS Energy; No Impact on Entergy
We are reaffirming our $37 fair value estimate and narrow moat and stable moat trend ratings for CMS Energy after the company unveiled an $18 billion investment plan in 2018-27 in part to replace the early termination of its offtake contract with Entergy's Palisades, Michigan, nuclear plant in 2018, four years before the current contract ends. Entergy concurrently announced it will close the plant in October 2018.We expect CMS will replace Palisades' 811 megawatts of generation with a combinat...
Entergy is a holding company. Through its subsidiaries, the company is an integrated energy company engaged mainly in electric power production and retail distribution operations. The company owns and operates power plants. The company has two segments: Utility, which generates, transmits, distributes and sells electric power to retail and wholesale customers in Arkansas, Louisiana, Mississippi, and Texas; and Entergy Wholesale Commodities, which includes the ownership, operation, and decommissioning of nuclear power plants, located in the northern United States, the sale of the electric power produced by its operating plants to wholesale customers, and also provides services to other nuclear power plant owners.
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