What should we make of this?
‘Digger is reporting that Entergy’s poor economic outlook might portend the closing of Vermont Yankee. This, according to UBS Securities of Switzerland.
They suggest there are strong indications that Entergy might consider resolving some cash-flow issues by closing both Yankee and another relic of happier times, NY Fitzpatrick.
On the face of it, this looks like good news; and the sooner the better.
But then there is that small matter of a decommissioning fund that is significantly inadequate to handle the thirty-year job of reclaiming Yankee from its toxic past.
“Entergy guidance clearly illustrates no cash generation from nukes”
If Entergy is hemorrhaging cash with little prospect of improvement on the nuclear horizon (something that comes as no surprise to readers of GMD); and if the company was prepared to drag the State of Vermont through multiple appeals only to pull the plug all by itself; that same perversity will undoubtedly see Entergy move heaven and earth in order to slide out from under its decommissioning obligations.
Soon dawns the certain knowledge that nuclear energy is anything but cheap and clean.
As if that isn’t enough provocative news on the nuclear front, ‘Digger carries another related story about Vermont and New York teaming up to ask the NRC to take a closer look at spent fuel storage at facilities on their soil.
This request has been made in light of a 2011 court decision which effectively negated the long-standing rule allowing on-site storage of spent fuel, pending further investigation related to the findings from Fukushima.
The NRC wasted no time in extending VY’s operating license in the immediate wake of Fukushima. Now that undo haste is coming back to haunt them.
‘Just another nail in the coffin of Entergy’s future commitment to Vermont Yankee.