For Sale: Vermont Yankee Nuclear Power Plant

Yesterday, Entergy Corporation announced that they were looking to sell the beleagered Nuclear Power plant in Vernon, Vermont. This comes a day after Democrat Peter Shumlin was elected Governor in state-wide elections, with the promise to shut down the plant, which has seen a number of technical issues and leaks of hazardous material over the past year. Its bid to renew its liscense for another twenty years was rejected back in February.

From their press release:

The sale process is being conducted on a confidential basis and no additional details will be released at this time. While no decision has been made to sell the plant, the company expects interest from multiple parties. The plant has an outstanding operational record. It completed 532 days of continuous operation in April 2010, the second breaker-to-breaker run in the last five years. The record run for the plant is 547 days, which ended in 2007.“Our motivation for exploring the sale of the plant is simple – we want to do whatever is in the best interest of our stakeholders, including the approximately 650 men and women who work at the plant,” said J. Wayne Leonard, Entergy’s chairman and chief executive officer. “At the same time, we have been successfully resolving any issues to secure Nuclear Regulatory Commission approval for a license 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 the continued output of clean and reliable energy for Vermont utilities.

“We will aggressively negotiate with potential buyers for extension of employment to all current employees as a condition of any sale.”Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002.