Entergy Corporation announced it plans to close and decommission its Vermont Yankee Nuclear Power Station in Vernon, Vermont, USA. The power plant is expected to cease power production after its current fuel cycle and move to safe shutdown in the fourth quarter of 2014. The power plant will remain under the oversight of the Nuclear Regulatory Commission throughout the decommissioning process.
The decision to close Vermont Yankee in 2014 was based on three main financial factors: 1) the development of shale gas, resulting in sustained low natural gas prices and wholesale energy prices in the USA; 2) A high cost structure for the Vermont Yankee single unit plant; 3) Low wholesale energy and capacity prices in the Vermont region do not provide adequate compensation to merchant nuclear plants.
Once the plant is shut down, workers will de-fuel the reactor and place the plant into SAFSTOR, a process whereby a nuclear facility is placed and maintained in a condition that allows it to be safely secured, monitored and stored.
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