Entergy buys Vermont Yanke, sale final

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(Host) Entergy Nuclear has bought the Vermont Yankee plant, closing a deal that was strongly endorsed by regulators but that critics say is bad for New England ratepayers. The $180 million deal was sealed this morning with the electronic transfer of funds and the filing of a deed. Robert Young, the chairman of Vermont Yankee, says the sale will save ratepayers money:

(Young) “We project that there will be at least $140 million in power cost savings that will accrue to Vermont consumers that would not have been there if we had continued to own the plant ourselves. And that’s roughly about a 25% decrease in what they’re going to have, relative to what the prognosis looked like if we had continued to retain ownership of the plant. And I think that’s very significant.”

(Host) Activists opposed the sale up to the last minute, but gave up Tuesday when regulators throughout New England declined to intervene. The Vermont Public Service Board refused to halt the sale to the Mississippi-based Entergy Corporation, saying it had already decided the issues. Regulators in Maine and Massachusetts also turned aside last minute appeals.

Vermont Yankee is located in southern Vermont, along the Connecticut River just west of New Hampshire and north of the Massachusetts border.

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