Entergy explores sale of Vermont Yankee

Friday, 5 November 2010 US utility Entergy has announced that it is considering selling its Vermont Yankee nuclear power plant. In a statement, the company said, "A process is under way to explore the potential sale of Vermont Yankee." It added, "While no decision has been made to sell the plant, the company expects interest from multiple partners." The Vermont Yankee plant, comprising a single 600 MWe boiling water reactor (BWR), began operating in November 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corp in 2002. The plant's operating licence is due to expire in March 2012, but Entergy has submitted an application to the US Nuclear Regulatory Commission (NRC) to extend the licence by 20 years. Entergy's chairman and CEO Wayne Leonard commented, "Our motivation for the sale is simple - we want to do whatever is in the best interest of our stakeholders." He added, "We have been successfully resolving any issues to secure Nuclear Regulatory Commission approval for a licence extension at the plant, and we have been in negotiations with the local electric companies to finalize a long-term power purchase agreement to ensure continued output of clean and reliable energy for Vermont utilities."