Entergy, the company that owns Palisades Nuclear Plant in Michigan announced that it will continue operating until 2022 under the existing Power Purchase Agreement with Consumers Energy.  Last year the company announced that it would shut down in the fall of 2018.

The announcement follows a decision last week by Michigan regulators to allow Consumers Energy less than it had asked for to terminate its contract with the plant. The Michigan Public Service Commission approved a $142 million securitization plan for buying out the remainder of the power purchase agreement, while Consumers had sought $184.6 million.

Palisades spokesman Val Gent says they told employees Thursday morning, when executives unfurled a big banner that read “2022.”

“Everyone clapped. So, you know, I can’t speak for all employees, but the ones I spoke to are very pleased with the decision to continue to operate until 2022,” she said.

The Palisades Power Plant employs about 600 workers and generates enough electricity to power more than 800,000 homes.