Entergy to Refuel Nuclear Plant Despite Negative Financial Reports
Entergy has announced that the Vermont Yankee Nuclear Power Plant will be refueled this spring, despite the company facing negative financial analyses.
Entergy will not release the cost of refueling the Vernon reactor, but Vermont Business Magazine is reporting that the last process, done in October 2011, cost nearly 100-million dollars. Vermont Yankee Spokesman Rob Williams explains that the plant is on an 18-month refueling cycle and they continue to operate based on federal licensing and favorable court decisions.
News of the refueling comes shortly after the Swiss financial firm UBS downgraded Entergy’s stock to “sell” status. That firm is also predicting that Entergy will close at least one of its nuclear power plants, and it singled out Vermont Yankee.
Vermont Citizens’ Action Network Lobbyist Bob Stannard believes Entergy must refuel to save face.
Vermont Law School Professor Cheryl Hanna doesn’t find a pending refueling significant.
Cheryl Hanna adds that refueling Vermont Yankee is not inconsistent with the UBS report that Entergy could decide to close a plant within a year.
The refueling at Vermont Yankee will occur this spring, although at this time Entergy will not provide specific dates.