Entergy to Close Massachusetts Nuclear Plant by 2019

Entergy Corp said Tuesday it will close its Pilgrim nuclear power plant in Massachusetts no later than June 1, 2019, because of poor market conditions, reduced revenues and increased operational costs.

"Market conditions and increased costs led us to reluctantly conclude that we had no option other than to shut down the plant," Leo Denault, Entergy's chairman and chief executive officer, said in a press release.

(Reporting by Scott DiSavino)