On November 2, 2015, Entergy Corporation announced that it intends to close the James A. FitzPatrick Nuclear Power Plant because it is becoming too costly to operate. The nuclear industry's profits have been squeezed out by utilities who are buying cheaper energy from natural gas power plants. “Given the financial challenges our merchant power plants face from sustained wholesale power price declines and other unfavorable market conditions, we have been assessing each asset,” Chief Executive Officer Leo Denault said in the statement. “Market conditions require us to also close the FitzPatrick nuclear plant.”