Earnings rose at Entergy, New Orleans, in the 1st quarter of 2021, which the utilities company attributed to higher sales volume.
Net earnings for the first quarter ended were $297 million, or $1.47 per share, up from $230 million, or $1.14 a share, in the year-ago quarter. Quarterly revenue was $2.84 billion, up 17% year-over-year.
Entergy cited its recent settlement with the state of New York over the sale of Indian Point Energy Center to Holtec International as a major accomplishment this quarter.
“We filed the joint settlement agreement among all parties paving the way for the sale of the Indian Point Energy Center to Holtec, before midyear,” Leo Denault, CEO of Entergy, said on a conference call with investors Wednesday. The settlement paves the way for Holtec to dismantle the nuclear plant after it shuts down for good at the end of the month.
“We are pleased with the outcomes of these proceedings as they provide certainty for you, our owners, and regulatory clarity with more than 90% of our capital plan to be recovered with timely mechanisms,” Denault said.
Entergy currently operates eight nuclear plants across the country. Two of those are scheduled to shut down in 2021, however. After Indian Point goes dark, Palisades Nuclear Generating Station in Michigan is set to go offline later this year.
