NUCLEAR: Vermont Yankee – Another Day Another Court Hearing

English: The Vermont Yankee Nuclear Power Plant. (Photo credit: Wikipedia)

Conservation Law Foundation - Posted: 03 Jun 2013 08:43 AM PDT

On June 4, Judge Reiss of the Federal District Court in Burlington, Vermont will take up the latest lawsuit from Vermont Yankee's owners. Once again, Entergy, the owner and operator of Vermont's tired old nuclear plant, is asking a federal court to give it a free pass.

Entergy wants to stop Vermont regulators from having any say over its operations.

This latest skirmish involves the building of a back-up diesel generator. Entergy claims the Nuclear Regulatory Commission requires the generator and that Vermont is getting in its way. It needs the Federal Court to stop any Vermont review of the proposal.
Hold on. Vermont's regulators already issued a proposal that would approve the generator. The only deadline is one that is self-imposed by Entergy. The current schedule allows a final decision even before Entergy's self-proclaimed "deadline."
So what's this really about? Entergy's world view seems to suggest that the less oversight it has the better. But that's not good for Vermont. The federal court should see through Entergy's antics and allow the Vermont proceedings to continue.

You can read Entergy's Complaint here and the State's reply here.

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OPINION: CLF thinks Vermont Yankee is Worth More Dead than Alive

Didn't this apply to Point Lepreau? Doesn't it still?

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Posted: 02 Jan 2013 12:40 PM PST

Photo courtesy of Andy Hares @ flickr.com

The financial world is waking up to what a drag Vermont Yankee really is. The tired, old and leaking nuclear plant in Vermont is not carrying its weight. Financial analysts report that Vermont Yankee is economically vulnerable and a retirement announcement would boost stock prices for its parent, Entergy.

You can read the UBS Investment Research report “Re-assessing Cash Flows from the Nukes” here. It states:

“Notably, we believe both its NY Fitzpatrick and Vermont Yankee plants are at risk of retirement given their small size; while potentially negative to sentiment, an announcement to retire the units would likely drive positive FCF revisions.”

Clearly it is past time to close this plant.
Analysts today dropped the projected price target for Entergy’s stock. They see high debt and little cash coming in. Not good news for any investment.

It is good the financial world is waking up to what Vermonters have known for years. Vermont Yankee is not a good deal. It hasn’t been for years. It is expensive and financially risky. Conservation Law Foundation submitted testimony to the Public Service Board on the lousy economics of allowing Vermont Yankee to continue to operate. It does not have enough money for decommissioning, low energy prices mean it is not making money and any problems would saddle Vermont with big problems. You can read CLF’s testimony here.

These are not problems we need. Nuclear power was once touted as too cheap to meter. That has never been true. Now it is too expensive to even keep operating. Thank goodness financial markets are waking up to this fact.

http://www.clf.org/

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