January 27, 2010
Commissioner David O’Brien
Department of Public Service
112 State Street , Drawer 20
Montpelier , VT 05602
Dear Commissioner O’Brien,
Following our Monday, January 25 conversation with you, we formally request that the Department of Public Service reconsider its support for Entergy’s proposal to spin off Vermont Yankee and five other nuclear power plants to the highly leveraged company, Enexus. The latest crisis at Vermont Yankee, the leakage of radioactive nuclides –tritium cobalt 60 and zinc-65 –is deeply troubling and could potentially double the cost of decommissioning the plant.
The Department recently based its decision to reverse its position and support the proposed transfer of ownership of the Vermont Yankee plant to Enexus, in part, due to financial assurances regarding the decommissioning fund. The current crisis calls for a reexamination of this position. With the extent of the radionuclide contamination unclear, the possible increased costs to decommissioning are currently unknown. Without a complete cost analysis, it would be irresponsible for the Department of Public Service to endorse transferring ownership of the plant to a highly leveraged, debt ridden company.
Decommissioning costs have increased dramatically for many nuclear plants around the country that have experienced similar radioactive leaks. In the case of Connecticut Yankee, the cost of decommissioning the plant nearly doubled, rising from $480 million to $871 million. In Braidwood, Illinois, the Exelon reactor leaked tritium into the groundwater and is now in the process of replacing the cities entire water supply system.
With the possibility of increased decommissioning costs it is only responsible to reconsider the Department’s support for proposal that would have Enexus, a highly speculative, debt-ridden company, being the one responsible to cover the additional costs.
Thank you for your consideration of this request. We look forward to continuing to work with you.
Sincerely,
Speaker Shap Smith Senate President Pro-Tem Peter Shumlin
