No takers for Vermont Yankee

Thursday, 31 March 2011 US utility Entergy has announced that it has failed to find a buyer for its Vermont Yankee nuclear power plant, despite the US regulator recently renewing the plant's operating licence for a further 20 years, to March 2032. The company said in November 2010 that it was considering selling the plant, which comprises a single 600 MWe boiling water reactor (BWR). Richard Smith, president of Entergy Wholesale Commodities, said, "Although we received interest from a number of companies, the conclusion of the sale process, without a sale, was driven primarily by the uncertain environment in Vermont." He added, "The plant's strong operating performance was attractive to potential buyers; the political uncertainty was not." The announcement came as Entergy reported that it has completed negotiations on a 20-year agreement to sell electricity from the plant to customers of Vermont Electric Cooperative. The agreement is "contingent on the plant running after March 2012," Entergy said. In February 2010, the Vermont Senate voted against the extended operation of the Vermont Yankee plant, which supplies around one-third of the state's electricity. "Entergy continues to seek successful resolution related to the long-term future of Vermont Yankee to benefit all stakeholders," Smith said.