NEW YORK (CBSNewYork/AP) — A strike or lockout has been averted at the Indian Point nuclear power plant after the plant’s owner reached a tentative contract agreement with its largest union early Saturday.

Entergy Nuclear and Local 1-2 of the Utility Workers of America reached a labor deal just hours after the union’s contract was to expire at Midnight Friday.

That deadline was suspended amid movement in the talks with federal mediators Thursday night.

Local 1-2 of the Utility Workers of America spokesman John Melia confirmed the settlement, and said the agreement benefits the workers, the union and Entergy.

Site vice president and Entergy’s top official at Indian Point, John Ventosa, said the agreement benefits all parties. “The agreement reached today allows all our employees to focus on their continuing mission to safely provide affordable and reliable power to millions of New Yorkers every day,” he said in a statement.

Union members still have to approve the deal in a vote expected within the next few weeks.

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