Vermont Yankee to Shut Down in 2014

Entergy Corp announced today that they will be shutting down the Vermont Yankee Nuclear Power Plant at the end of 2014. The inability for nuclear power to prove financially viable was the leading cause of the shutdown, according to Bill Mohl, Entergy's wholesale commodities president. Despite the economic challenges the plant was facing, grassroots activists, the State of Vermont, and Governor Peter Shumlin have all been applying political and legal pressure on the company to shut down the plant. The 41 year old plant, located in Vernon, Vermont, is one of the oldest and smallest in the country. In 2007 and 2008 it was faced with collapsing cooling towers and then in 2010 was found to be leaking tritium.

Entergy says that it will abide by the SAFSTOR option created by the Nuclear Regulatory Commission to decommission nuclear power plants, where it is supposed to be monitored for 60 years while the core cools down. However, many critics question whether Entergy will exist in sixty years or have the estimated $800 million to $1 billion that it could take to fully decommission the plant.