Entergy makes ‘agonizing decision’ to close Vermont Yankee nuclear plant
An undated file photo shows an aerial view of the Vermont Yankee nuclear power plant in Vernon, Vt. (Courtesy Vermont Yankee Corporation)
Entergy Corporation said today it will close the controversial Vermont Yankee nuclear plant in Vernon, Vt., calling the move an “agonizing decision.”
The plant along the Connecticut River will cease power production after its current fuel cycle and close in 2014.
In a news release, Entergy officials said the decision was driven by sustained lower prices and a high cost structure.
“This was an agonizing decision and an extremely tough call for us,” Leo Denault, Entergy’s chairman and chief executive officer, said in the release. “Vermont Yankee has an immensely talented, dedicated and loyal workforce, and a solid base of support among many in the community. We recognize that closing the plant on this schedule was not the outcome they had hoped for, but we have reluctantly concluded that it is the appropriate action for us to take under the circumstances.”
Gov. Peter Shumlin, a former state senator from Windham County and longtime opponent of the plant, is holding a news conference in Montpelier later this morning.