Consumers Energy to sell Palisades nuclear plant

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Critics fear boost in electricity rates

Consumers Energy has agreed to sell its Palisades Nuclear Plant near South Haven to Entergy Corp. for $380 million in a deal that some consumer advocates worry could raise electricity rates for some customers.

Jackson-based Consumers Energy, a unit of CMS Energy, said the proposed sale of its 798-megawatt nuclear reactor in Covert came after a seven-month bidding. The deal calls for Entergy to pay $242 million for the plant itself. Another $83 million will go to pay for nuclear fuel, while the remaining $55 million is for other assets related to the plant.

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