Entergy’s plan to spin off its debt into a shell separate company is over.  Enexus is no more.  

This is a major victory.  Even with the support of the Douglas administration, this company was unable to pull off a major fast one on the public.  It doesn’t fix everything, but it leaves a parent company with large resources still responsible for the cleanup of VY, and leaves us with one less scapegoat to deal with.

A few choice quotes from today’s Rutland Herald:

“Ever since SpinCo/Enexus was first mentioned, I understood this was a carefully-hatched Wall Street scheme to ensure Vermonters paid for stockholders’ profits at Entergy,” said Shumlin…

…and…

Entergy issued a press release saying it was starting immediately “to unwind the business infrastructure associated” with Enexus.

UPDATE: I am a doofus.  The entire section below:

I tried to find that press release.  I went to Entergy’s web site and did a search for “Exenus.”  Here were the results of that search:

Your search – exenus – did not match any documents.

No pages were found containing “exenus”.

Was due to a typo on my part.  I was trying to be clever, and I tanked.  My apologies to everyone.    The rest of what I had to say however…

I suspect that that unwinding of the “‘business infrastructure associated’ with Enexus’ will take approximately seven minutes.  

…still stands