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/

Related articles

• NRC inspection finds two violations at Vermont Yankee
• Fight over Vermont Yankee in 2 courts this month
• Playing Nuclear Roulette in Vermont
• Shut Down Vermont's Outlaw Nuke?

Vermont Yankee Trial in Federal Court

Image via Wikipedia

Vermont Yankee Trial in Federal Court

Posted: 15 Sep 2011 12:02 PM PDT

The State of Vermont and the owners of the Vermont Yankee nuclear power facility squared off in Federal Court this week.  It was a three day trial.  The days were long.  The testimony was often technical.  The lawyering was skilled.  Vermont Yankee’s owners say everything is about safety and only the federal government can regulate safety so Vermont’s laws are invalid.  It is a convoluted argument.  The dots don’t connect.
Vermont’s able lawyers went toe-to-toe with the owners every step of the way.  The State has a strong case.  Vermonters by nature are frank and direct.  Our laws say what they mean and mean what they say.   There is no decade-long grand conspiracy to hide intentions.  The Vermont Legislature acted well within its rights.
CLF has joined the case as a “friend of the court” and has filed legal pleadings supporting the state.  We are also representing Vermont Public Interest Research Group whose representatives joined me at the hearings, and logged daily accounts of the trial.
The trial is over.  A decision is expected before the end of the year.  Stay tuned.

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Vermont Yankee Trial Begins Next Week

Image via WikipediaFrom Conservation Law Foundation

Posted: 09 Sep 2011 12:04 PM PDT

Should Vermont have a say in the future of Vermont Yankee, an aging nuclear plant on the banks of the Connecticut River?  A trial to answer that question begins next week.  Vermont Yankee’s owner sued the State of Vermont in April.  Yankee’s owners want to avoid State oversight, and filed suit as a last ditch effort to keep the plant operating.   
The State has a strong case.  For years, Vermont has responsibly overseen the economic, power supply and land use impacts of Vermont Yankee – matters within traditional state authority.  Vermont Yankee’s owners ignore this long history and want the Court to find all actions by Vermont are an attempt to regulate radioactive safety – something within exclusive federal authority.
Conservation Law Foundation provided a “friend of the court” brief explaining the history, legal background and context of the State’s actions focusing on the owner’s untrustworthiness, poor economics of continued operation, and Vermont’s interests in advancing renewable power. 
Beginning Monday, experts on power supply and regulation will explain their views.  The trial will last three days.  A decision is expected later this fall.