Saying “Yes” to Vermont Yankee
Entergy has announced plans to close Vermont Yankee at the end of 2014. The Public Service Board is considering whether to grant a Certificate of Public Good to allow Vermont Yankee to operate until the end of the year. I believe the answer is yes, because the generous settlement agreement between Entergy and the State of Vermont is contingent upon its approval. This agreement includes many benefits for Windham County and the rest of Vermont:
- Entergy VY will provide $10 million in economic development for Windham County.
- Entergy will provide $5.2 million in clean energy development support for Windham County and elsewhere,
- Entergy will provide a transitional $5 million payment to the State for calendar year 2015.
- Entergy will also set aside a new $25 million fund to ensure the site is restored after decommissioning.
- Entergy has agreed to prepare a site assessment and cost study by the end of 2014, two years earlier than NRC rules otherwise would require, to help provide greater certainty regarding the plant’s decommissioning and related activities. This will enable Vermont to plan better for the future.
- Entergy has agreed to decommission Vermont Yankee as soon as funds in the Nuclear Decommissioning Trust allow.
The agreement resolves ongoing expensive, fruitless litigation between Entergy and the State of Vermont.
Allowing operation to continue through 2014 allows employees, communities and social services time to plan for the changes which will occur when the plant closes.
Clearly, this agreement – which depends on the PSB saying “yes” to the plant operating through 2014 – is in “the public good.”
Jaffrey, New Hampshire