Forgot your password?
typodupeerror
Power The Almighty Buck

Vermont Nuclear Plant Seeks Decommission But Lacks Funds 179

Posted by Unknown Lamer
from the just-keep-it-running? dept.
mdsolar (1045926) writes with this bit of news about the Vermont Yankee Nuclear Plant shutdown. From the article: "On Friday, the Vermont Public Service Board voted to authorize Entergy Nuclear Operations, Inc., the operators of the Vermont Yankee electricity generating station ..., to close down their nuclear power plant by the end of this year. Because Entergy planned to shut the Vermont nuclear plant down prior to its licensed end-term, the board was required to approve the shutdown....

Entergy has reserved just over $600 million to date for decommissioning the Vermont nuclear plant, according to the Department of Public Service. This amount will not be adequate to meet the costs of full deconstruction, estimated at more than $1 billion according to the company's 2012 Decommissioning Cost Analysis report."
This discussion has been archived. No new comments can be posted.

Vermont Nuclear Plant Seeks Decommission But Lacks Funds

Comments Filter:
  • by imikem (767509) on Wednesday April 02, 2014 @08:48AM (#46638559) Homepage

    Of course. It's so silly that no other industries ever get subsidized by tax dollars.

  • wait, what? (Score:2, Insightful)

    by Anonymous Coward on Wednesday April 02, 2014 @08:52AM (#46638575)

    I don't think a single aspect of the summary was accurate. They didn't need approval from Vermont to shutdown, they needed approval to run the plant until the end of the year. And of course they don't have enough money to decommission the plant today - they only made the decision to close the plant about a year ago. The plant needs to continue saving up money in their fund until they have enough to decommission the plant - no surprises there. So what is the point of this story?

  • Re:that's ok (Score:3, Insightful)

    by Impy the Impiuos Imp (442658) on Wednesday April 02, 2014 @08:54AM (#46638599) Journal

    You regulate the electricity costs, so your fingerprints are all over it already, "The People".

  • by jythie (914043) on Wednesday April 02, 2014 @08:57AM (#46638623)
    Well, that is how they stay competitive with all the other subsidized industries.
  • by bobbied (2522392) on Wednesday April 02, 2014 @09:24AM (#46638919)

    This issue demonstrates that arguments about the low lifetime cost and impacts of nuclear power tend to externalize significant costs. Decommissioning can be added to waste handling/storage and subsidized insurance.

    Partly true, but the real problem is that though out the lifetime of this plant, the expected costs for decommissioning have gone though the roof by a mass of changing rules, laws and policies which have conspired to not only raise the costs but shorten the useful lifespan of the plant. As such, this is not really the operator's fault, but the cold economic facts of changing political climate are really to blame. IMHO...

  • Re:Bogus (Score:4, Insightful)

    by interkin3tic (1469267) on Wednesday April 02, 2014 @10:25AM (#46639547)
    Carbon still needs to be disposed of too, we're just allowing coal plants to pretend it doesn't. Simply because it floats away and negatively impacts everyone across the globe a slight bit, most of whom are in other countries.

    In other words, yes, you're right, fossil fuels externalize the costs of waste disposal while nuclear does not. To me, that's an argument in favor of subsidizing nuclear rather than coal: it's a lot easier to deal with nuclear waste that's in one place rather than deal with the effects of carbon in the atmosphere.
  • by bobbied (2522392) on Wednesday April 02, 2014 @10:26AM (#46639563)

    The owner of Vermont Yankee is Entergy Corp. and they are HUGE.

    Looking at their most recent annual report filed in February of 2014. This company made about a billion dollars in profit last year. They might not like having to pony up another 500-600 Million dollars over the next 5 years, but it's not like they couldn't. It would barely be a blip on the radar in the grand scheme of things for them. It's obvious they will easily pay for this and the government won't have to take over.

    Tell me again why this is news?

  • by Medievalist (16032) on Wednesday April 02, 2014 @10:45AM (#46639793)

    Well, that is how they stay competitive with all the other subsidized industries.

    In theory, the government subsidies are intended to further social goals that the free market cannot adequately address without regulation.

    In practice, the government subsidies are treats that the political powers (such as congressmen) hand out to economic powers (such as favored contributors).

    Since our economic powers have evolved into multinational corporations that actively oppose our social goals and purposely subvert our cultural values, this means that the government subsidies are quite often doing the exact opposite of what they are nominally intended to do.

  • by mellon (7048) on Wednesday April 02, 2014 @03:34PM (#46642777) Homepage

    Excuuse me? You think some Johnny-come-lately power plant, by virtue of having been here for a mere 42 years, has some kind of special right to continue operating outside its safe lifetime at the risk of all the homeowners in the area, just because some of them arrived after the plant was built? As it happens, I grew up about five miles downstream of the VY site, and was 7 when it started operations. But even if that weren't the case, your logic is offensive. A brief incumbency in the neighborhood does not give a corporation special privileges with respect to imposing its externalities on its neighbors. The natural heritage that exists in the general area of the VY power plant has tremendous value, and should not be placed at risk in the service of short-term expediency.

The biggest mistake you can make is to believe that you are working for someone else.

Working...