Nuclear, Waste Management & Decommissioning

Vermont Nuclear Power Plant decommissioning approved

Vermont Yankee nuclear power plant retirement not affect grid reliability ISO New England Entergy

On Friday, the Vermont Public Service Board voted to allow the operators of the Vermont Yankee nuclear power plant, Entergy Nuclear Operations Inc. (NYSE: ETR), to close down its facility by the end of 2014.

An approval was required from the board since operators planned to shut down the facility prior to its licensed end-term.

Entergy announced last August its intensions to shut down the site for economic reasons.

The state and the company have adopted a memo of understanding that requires Entergy to provide $10 million for economic development in Windham County, Clean Technica reported.

Entergy has reserved more than $600 million for decommissioning the plant, according to the Department of Public Service. However, Entergy’s 2012 Decommissioning Cost Analysis report estimated the decommissioning would cost more than $1 billion.

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