The U.S. Nuclear Regulatory Commission has formally accepted a petition from anti-nuclear activists to investigate the finances of three Northeastern nuclear plants, including Vermont Yankee.
The regulatory body has agreed to consider whether it should evaluate Entergy Corp.’s financial ability to decommission the Vermont Yankee and New York FitzPatrick nuclear plants and whether Entergy has the financial wherewithal to continue to safely operate the Pilgrim nuclear plant in Plymouth, Mass.
In March, the Citizens Awareness Network, Alliance for a Green Economy and Pilgrim Watch petitioned the NRC to suspend operating licenses for FitzPatrick and Vermont Yankee, and the groups asked the NRC to look into the financial vitality of all three plants. The NRC declined to quickly shut down the two plants.
“Entergy’s financial situation does not pose an immediate danger to public health and safety and the environment,” wrote Eric Leeds, director of Nuclear Reactor Regulation. “The immediate or emergency shutdown of Fitzpatrick and Vermont Yankee, as requested by the petitioners, was not necessary to protect public health.”
Leeds said the NRC “will take action” on the request to consider the finances of the plants “within a reasonable amount of time.”
Tim Judson, president of the Citizens Awareness Network, is urging the NRC to act quickly.
“Entergy is no longer qualified to operate these nuclear plants, and now is the time for NRC to step in and take away the keys,” he said. “The pressure on Entergy to cut costs, delay maintenance, and drive these plants to the edge is just too great.”
In 2013, the fair market value of the Vermont Yankee nuclear plant fell 69 percent, from $517.5 million to $162 million. UBS Securities downgraded Entergy Corp.’s stock from “neutral” to “sell.” And the Swiss financial services firm projected the closure of an Entergy nuclear facility in 2013, saying “Vermont Yankee is the most tenuously positioned plant.”
More recently, Entergy announced nationwide layoffs, an including an estimated 30 at Vermont Yankee.
