Lawmakers wary of VT Yankee Spinoff

Last week lawmakers held a legislative hearing on the corporate owner’s of Vermont Yankee, Entergy, plans to create a new spin-off company (Enexus). This new company would own the reactor in Vernon and five other of its aging nuclear plants, leaving Enexus saddled with debt and no answers on its viability.
Lawmakers had some commonsense questions about if the new corporation is taking on too much debt and how the company will have enough money to make major repairs and dismantle the nuclear plant after it’s shut down. The hearing highlighted the concern that Enexus is nothing more than a shell game aimed at free Vermont Yankee’s current owners of any liability. Vermonter’s don’t want another Fair point.
Vermont Yankee has yet to answer how this would be good for Vermonters. With such a high level of debt how will this spin off company be financial viable. As Senator William Carris, D-Rutland put it, “We really haven’t gotten a good explanation for what they want to do other than to shift responsibility.”
One question by the Public Service Board sums it up pretty well is “Please address concerns of the public about the advisability of transferring an aging Vermont nuclear plant to a company with ‘junk bond’ credit rating that seeks a 20-year” license extension.
In case you missed it check out some recent news:
Enexus perplexes legislators – Rutland Herald – Click Here
Lawmakers, Regulators Question Yankee Spin Off -Vermont Public Radio – Click Here
Lawmakers skeptical of Vermont Yankee spinoff – Burlington Free Press – Click here