The Vermont Public Service Board will allow the 605-MW Vermont Yankee nuclear power plant to operate through the rest of 2014 in exchange for payments to the state.
VTDigger.org reports that the board issued a certificate of public good which allows the plant to operate through the end of the year. Plant owner Entergy (NYSE: ETR) announced in August that it would close the plant in 2014 due to market conditions.
Entergy, in exchange, must pay the state for economic development, renewable energy projects and pay into a special decommissioning fund, the article said. Entergy said in August that its decommissioning trust had a balance of $582 million as of July 31. The utility has not given a date for when decommissioning activities would begin.
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