Entergy Submits 1,375 MW New York Power Bid
Entergy announced today that it has submitted its bid to the New York Power Authority to provide 1,375 MW of electricity to New York starting in 2016.
The NYPA has purchased power from the utility's Indian Point Energy Center for more than a decade, and this newest proposal hopes to continue the commercial partnership.
The "Request for Proposals" opens bidding to any utility, but Entergy hopes that its application will receive special interest for three reasons: no subsidies requirement, its proven track record, and an increasingly environmental energy portfolio.
According to Entergy VP of External Affairs Mike Twomey, "The Indian Point power will save New York consumers billions of dollars in unnecessary expenditures in the form of higher electric rates and public subsidies."
At 30,000 MW total generation, this latest bid would account for around 4.6% of the company's total capacity, or just under 14% of its total nuclear output.
The article Entergy Submits 1,375 MW New York Power Bid originally appeared on Fool.com.Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.