Entergy is the second largest nuclear owner/operator in the United States with five nuclear units in the south operating under a cost of service structure and an additional six units in the Northeast and Midwest operating as merchant generating facilities. As a major nuclear operator in the merchant sector, Entergy wears the risk of nuclear operations – revenues are directly dependent upon operational performance. Our investment in merchant nuclear operations reflects our belief that use of nuclear energy in the competitive merchant environment can be an economically viable business venture.