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This is very good news.

Plan to close Vermont Yankee marks latest blow to nuclear power

The Vermont Yankee nuclear power plant in Vernon, Vt., will be shut down by the end of next year due to financial factors, the company that owns the plant announced Tuesday, in the latest sign of a difficult economic climate for nuclear power companies.

Entergy Corp., the New Orleans-based company that owns Vermont Yankee, plans on closing and decommissioning the plant by the fourth quarter of 2014, in cooperation with the US Nuclear Regulatory Commission. It is the fifth nuclear plant this year to close or to have plans made for its closure.

Older nuclear plants with their high overhead costs are having a tough time competing with new natural gas fired plants.  
The company said the decision to close was based on “a number of financial factors” including sustained lower power prices stemming from the natural-gas revolution, a high cost structure for the plant, and what it called "wholesale market design flaws" that artificially deflate energy prices. Some 630 people work at the plant.

Likely also a contributing factor was the ongoing legal battle with the state of Vermont, where state officials had been trying to shutter the plant on their own authority. In 2006 the state legislature granted itself the authority to close the plant and in 2010 voted to do so.

Meanwhile, utilities have plans to build three new reactors, the Monitor reported in June.
I remember the Clamshell' Alliance's opposition to Vermont Yankee back in the late 1970s, and 1980s when I was active in an anti-nuclear group here in Washington state patterned after them named the Crabshell Alliance. Had this closure been announced in the 1980s this would have been a a major event, today being part of a trend its not as much of one.  

Originally posted to Lefty Coaster on Tue Aug 27, 2013 at 03:49 PM PDT.

Also republished by Good News.

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Comment Preferences

  •  Tip Jar (12+ / 0-)

    "If Wall Street paid a tax on every “game” they run, we would get enough revenue to run the government on." ~ Will Rogers

    by Lefty Coaster on Tue Aug 27, 2013 at 03:49:39 PM PDT

  •  Yes, it is very good news. (8+ / 0-)

    The recent decision SCE to shutter San Onofre probably has the older nukes with recent extensions concerned. They'd all have to replace components at this point, and that didn't work out well at all for SONGS. It's an awful lot of their "cash cow" profit from those old, paid-for nukes. And no guarantees it'll pay off one bit.

    The money's going elsewhere these days. When the recent CEO of Exelon says in public that nukes no longer make economic sense, when GE and Seimens and others get out of the business because there's no future in it, the writing's on the wall.

    Good for Vermont, at long last!

  •  Is Yankee Vermont one of the elevated (5+ / 0-)

    cooling pool Sites?

  •   What good news. I was a member of the Sunbelt (4+ / 0-)
    Recommended by:
    Lefty Coaster, Munchkn, WakeUpNeo, chimene

    Alliance that helped prevent the completion of the proposed Black Fox Power Plant in Inola, Oklahoma. Black Fox would have used the same reactors as at Fukushima.

    The Sunbelt Alliance, a group involved in other anti-nuclear campaigns, became involved in the fall of 1978 when it decided to plan a large-scale protest at the site of the Black Fox Nuclear Power Plant. The group was composed of a loosely knit collection of smaller affinity groups supporting the Alliance. I was a member of the Sunbelt Alliance whichThese groups were diverse and included students from the University of Tulsa as well as professors, musicians, artists, Native American groups, and professionals. The Alliance was based on theories of nonviolent civil disobedience and the members all had to participate in a seven-hour training session before becoming involved with the direct action. All members of the affinity groups had to pledge to cause no damage or destruction to PSO property, not run, not bring dogs, not use drugs or alcohol, not use weapons, not break police lines, and not engage in verbal abuse.

    Bolstered by the outrage generated by the accident at Three Mile Island, the Sunbelt Alliance and other groups engaged in a nonviolent occupation of Black Fox on June 2, 1979, to coincide with the International Days of Protest. The protest was planned by Kyle Cline, Kathryn Greene, and Elizabeth Barlow and involved about 500 people camping out in the nearby State Park to prevent further construction of the nuclear reactor. The protesters were quickly arrested, including many reporters attempting to document the protest.

    "It ain't what you don't know that gets you into trouble. It's the thing you know for sure that just ain't so." Mark Twain

    by Expat Okie on Tue Aug 27, 2013 at 06:01:43 PM PDT

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