RYE BROOK, N.Y. – The owner of the Indian Point nuclear power plant says a contract agreement has been reached with its largest union, avoiding a strike or lockout.

Entergy Nuclear and Local 1-2 of the Utility Workers of America reached a tentative agreement early Saturday. The union’s contract was to expire at midnight Friday, but that deadline was suspended amid the talks.

John Ventosa, site vice-president and Entergy’s top official at Indian Point, said in a statement that the settlement “allows all our employees to focus on their continuing mission to safely provide affordable and reliable power to millions of New Yorkers every day.”

Union spokesman John Melia confirmed a tentative settlement and said it benefits the workers, the union and Entergy.

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