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Entergy : Astorino's Indian Point Lawsuits Will Be Heard In White Plains

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09/25/2017 | 11:10am CEST

When it comes to his lawsuits against the state over the closing of Buchanan-based Indian Point, County Executive Rob Astorino has the home court advantage.

A judge ruled Astorino's lawsuit must be heard in White Plains. The state had been pushing to have the case moved to Albany since the decision to close the plant was made by state officials.

Indian Point is set to close in 2020 and 2021 after Entergy, which owns Indian Point said it was closing down the plant because it was no longer economically viable to remain open.

"Were it not for the existence of the facility, the agreement, certification, and permit would not even exist," Judge Helen Blackwood wrote. "It cannot be said that the acts which gave rise to the agreement and issuance of the certification and permit did not occur in Westchester."

Astorino launched his suit in May, saying the agreement between the state, Entergy, and Riverkeeper, which had been suing the plant, violated the state's Environmental Quality Review Act. Astorino is hoping to invalidate the agreement until a review is conducted.

"This case is not about what is or isn't convenient for bureaucrats in Albany, nor does it have to do with the debate over nuclear energy," said Astorino. "It has to do with the rule of law and the health, safety, and pocketbooks of nearly 1 million Westchester residents and 9 million New Yorkers who were left out of the process to close Indian Point."

Astorino is filing the lawsuit on his own behalf at no cost to the county, his office said.

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Sales 2017 11 039 M
EBIT 2017 2 004 M
Net income 2017 1 263 M
Debt 2017 15 698 M
Yield 2017 4,53%
P/E ratio 2017 -
P/E ratio 2018 16,03
EV / Sales 2017 2,69x
EV / Sales 2018 2,77x
Capitalization 13 959 M
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Technical analysis trends ENTERGY CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 18
Average target price 79,3 $
Spread / Average Target 1,9%
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NameTitle
Leo P. Denault Chairman, President & Chief Executive Officer
Paul D. Hinnenkamp Chief Operating Officer & Senior Vice President
Andrew S. Marsh Chief Financial Officer & Executive Vice President
Maureen Scannell Bateman Independent Director
Donald C. Hintz Independent Director
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