Business & Economy

Entergy agrees to make payments to Clean Energy Development Fund

Vermont Yankee
Vermont Yankee on the banks of the Connecticut River. Photo by Deborah Lazar/Special to The Commons

In a filing Tuesday afternoon with the Vermont Public Service Board, Entergy Corp. agreed to comply with the requirements in its existing license while the board considers whether to grant the company a new certificate of public good to operate the Vermont Yankee nuclear power plant.

In a one-paragraph letter to the board, the company said it agreed with the Department of Public Service that Vermont law allows the plant to continue operating while the proceeding continues.

The plant’s state license expired March 21, but it continues to operate, with all of the power generated being sold out of state.

The Department of Public Service, which represents ratepayers before the Public Service Board, has pushed for the company to continue making payments to the Clean Energy Development Fund, which funds renewable energy projects. In its filing, Entergy agreed to continue making payments to the state in the interim.

The filing states: “Entergy VY agrees with the Department that 3 V.S.A. § 814(b) applies and that, pursuant to that provision-which keeps intact Entergy’s existing certificates of public good pending the Board’s determination of Entergy VY’s petition for a certificate of public good authorizing post-March 21, 2012 operations-Entergy VY must comply with the conditions in the existing certificates of public good that the Department lists at pages 7-9 of its cross-motion.”

Those conditions include paying into the fund, which has received around $6 million each year from Entergy through a generating tax.

The tax expired on March 21 along with Entergy’s permit.

A proposal in a miscellaneous tax bill in the House aimed to replace that money with a new tax on Entergy. Under the House proposal, $3 million would go to the education fund, $1.5 million to the Clean Energy Development Fund and $1.5 million to a special fund to help the Windham County region plan for Vermont Yankee’s closure if that happens.

Entergy will also have to continue producing reports about the status of Vermont Yankee’s decommissioning fund.

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Alan Panebaker

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  • Alex Barnham

    Here’s your hat, your coat, oh, can I please have your coat.