Entergy Corporation said today it plans to close and decommission its Vermont Yankee Nuclear Power Station in Vernon and that the plant will close at the end of 2014.
"Citing Economics, Entergy To Close Vermont Yankee By End of 2014"
John Dillon's report recapping all the developments of the day:
Updated 6:02pm: Nancy Cohen reports on the mixed reaction to the plant's closure from the local community, the plants neighbors in Windham County.
Updated 5:44pm: Charlotte Albright reports from the press conference held by Entergy explaining their decision to close Vermont Yankee. The report includes the full audio of the event, held at the Entergy headquarters in Brattleboro, VT.
Updated 5:40pm: John Dillon files a report recapping the developments today.
Updated 2:47pm: According to a report issued by Entergy in March 2013, the Vermont Yankee Decommissioning Fund balance was $543.26 million as of 12/31/2012. Read the full report.
Updated 1:40pm: VPR reporter Charlotte Albright got reactions from anti-nuclear protesters outside the Vermont Yankee offices.
Updated 1:08pm: Thoughts and reactions from guests on Vermont Edition today (tweets by producer Annie Russell):
"We do hold the company accountable for de-commissioning the site" @NRCgov 's Diane Screnci on #VTYankee on how Entergy will pay.
— Vermont Public Radio (@vprnet) August 27, 2013
Now on @vermontedition, @ATGBillSorrell says Public Service board still has a say whether #VTYankee operates until closure.
— Vermont Public Radio (@vprnet) August 27, 2013
"There will be no impact on our customers," Mary Powell, @GreenMtnPower CEO on #VT Yankee closure.
— Vermont Public Radio (@vprnet) August 27, 2013
"There needed to be significant planning that wasn't done," -Rep. Mike Hebert on local gov't prep for #VTYankee closure.
— Vermont Public Radio (@vprnet) August 27, 2013
"IBM is here for the duration," - @GovPeterShumlin on VT Yankee job loss vs. IBM layoffs. #VT Yankee license was set to expire.
— Vermont Public Radio (@vprnet) August 27, 2013
"They made the right decision for Vermont and Entergy" - @GovPeterShumlin on #VT Yankee closure.
— Vermont Public Radio (@vprnet) August 27, 2013
"We have no current plans to shut down any other facilities," Entergy's @billmohl #VTYankee
— Vermont Public Radio (@vprnet) August 27, 2013
Updated 12:39pm: John Dillon provides an update on the plant closure in the mid-day VPR Newscast.
Updated 1:01pm: Listen to the full audio of Governor Shumlin's press conference, held earlier today, on the closure of Vermont Yankee.
Updated 12:31pm: Vermont U.S. Senator Bernie Sanders, a member of the Senate energy and environment committees releases a statement welcoming the plant's closure.
"I am delighted that Entergy will shut down the Vermont Yankee nuclear plant which has had so many problems in recent years. There is a strong desire on the part of the people of the state of Vermont to close the plant that was scheduled to operate for only 40 years. The closure will allow Vermont to focus on leading the nation toward safer and more economical sources of sustainable and renewable energy like solar, wind, geothermal and biomass."
Updated 12:28pm: Vermont Speaker of the House Shap Smith releases a statement:
"Entergy's announcement this morning that it will close and decommission Vermont Yankee in 2014 comes after several years of speculation about the long term sustainability of the plant. This closure is part of a broader national trend in which the economic viability of nuclear power is uncertain, as the country looks to develop an affordable and sustainable energy profile for the future. In the coming months and years, the legislature will work with the Administration, Windham County leaders and others to assist employees of the plant and the surrounding communities during this transition period. Entergy repeatedly has assured Vermonters that it will decommission the plant in a safe and environmentally sound way. I will work to ensure that this commitment is fully met."
Updated 12:25pm: Follow @VPRnet, John Dillon, and the #VPRNews hashtag for updates throughout the day.
Updated 12:10pm: "This asset is not financially viable" - Bill Mohl, Entergy.
Updated 11:59am: Vermont Senate President Pro Tem issues statement and comments on the method of decommissioning. From that statement:
"The method of decommissioning is crucial. Dry-cask storage for the better part of a century will render the site unusuable for generations, and is therefore unacceptable by any standard. We hope to work out these concerns with Entergy over the next year. "Rest assured, however: the Senate will not content itself with hope. We will have a weather eye on the decommissioning process, and will stand ready to steer the process as forcefully as is necessary to achieve the ultimate goal: returning the Vernon site to greenfield status. And we will do everything in our power to see that those currently employed on-site at Yankee are held harmless during this important transition."
Updated 11:52am:Governor Peter Shumlin is about to appear on Vermont Edition to discuss the closure of Vermont Yankee.
Updated 10:49am: From John Dillon on Twitter: The Nuclear Regulatory Commission issues a statement; Governor Shumlin to hold news conference; reaction from former Vermont Public Safety Chair and USB:
UBS energy analyst says "it's not litigation, it's economics" (low nat gas prices) that did in #VT Yankee. #VPRNews #VTPoli
— John Dillon (@JDillonVT) August 27, 2013
In statement, @NRCgov says it will carefull oversee #Vt Yankee decommissioning. #VPRNews #VTPoli
— John Dillon (@JDillonVT) August 27, 2013
#VT Gov Shumlin to hold news conf. this morning on Vt Yankee shutdown. #VPRNews
— John Dillon (@JDillonVT) August 27, 2013
Frmer #VT PSB Chair Rich Cowart: "not a surprise" economic pressure + low natural gas prices spurred Entergy to close Vt Yankee. #VPRNews
— John Dillon (@JDillonVT) August 27, 2013
Original Post: Entergy Corporation said today it plans to close and decommission its Vermont Yankee Nuclear Power Station in Vernon.
The station is expected to cease power production after its current fuel cycle and move to safe shutdown in the fourth quarter of 2014.
Entergy said the decision to close the plant was based on a number of financial factors, including changes to the natural gas market, a high cost structure for this single unit plant and what the company called wholesale market design flaws.
The station will remain under the oversight of the Nuclear Regulatory Commission throughout the decommissioning process.
Vermont Public Radio will have continued coverage of the closure. VPR’s Jane Lindholm will be speaking with Governor Peter Shumlin about the closure on today’s Vermont Edition at noon.
