So much for Vermont being a low-emissions electricity system.
The stated reasons for Entergy's decision seem to mirror Dominion's stated reasons for closure of Kewaunee earlier this year.
Entergy to Close, Decommission Vermont Yankee - Financial (FINANCIL) News - InvestorPoint.com:
The decision to close Vermont Yankee in 2014 was based on a number of financial factors, including:The entire article can be read at InvestorPoint.com
- A natural gas market that has undergone a transformational shift in supply due to the impacts of shale gas, resulting in sustained low natural gas prices and wholesale energy prices.
- A high cost structure for this single unit plant. Since 2002, the company has invested more than $400 million in the safe and reliable operation of the facility. In addition, the financial impact of cumulative regulation is especially challenging to a small plant in these market conditions.
Making the decision now and operating through the fourth quarter of 2014 allows time to duly and properly plan for a safe and orderly shutdown and prepare filings with the NRC regarding shutdown and decommissioning.
- Wholesale market design flaws that continue to result in artificially low energy and capacity prices in the region, and do not provide adequate compensation to merchant nuclear plants for the fuel diversity benefits they provide.
The feasibility of small modular reactors is questionable when smaller, lower-cost, legacy reactors are not.
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