nuclear-news

The News That Matters about the Nuclear Industry Fukushima Chernobyl Mayak Three Mile Island Atomic Testing Radiation Isotope

Entergy’s finances being probed by Nuclear Regulatory Commission

scrutiny-on-costsNRC to probe Entergy’s nuclear plant finances Rutland Herald, By Susan Smallheer

Staff Writer | August 11,2013 HINSDALE, N.H. — The Nuclear Regulatory Commission will investigate the finances of three nuclear reactors owned by Entergy Nuclear — Vermont Yankee, Pilgrim in Massachusetts and the FitzPatrick reactors in New York — as a result of a petition by four anti-nuclear groups.

Deb Katz, executive director of the Citizens Awareness Network, said Saturday that the NRC accepting the petition for review was a major accomplishment for the groups. She said she hoped the NRC would get answers to many people’s questions about Entergy’s financial status.

Katz made her remarks during the “Flotilla 2013” rally and protest Saturday on the banks of the Connecticut River, directly across from the Vermont Yankee plant in Vernon, Vt.  Entergy, the corporate parent of Vermont Yankee, announced last month it was laying off 800 employees out of its workforce of 15,000 nationwide. The cuts translate to a 4.6 percent staff cut at Yankee, which will lose 30 employees out of a total of 650.

Earlier in the year, the company announced it had been forced to write down the value of Vermont Yankee from $517 million to $162 million due to ongoing financial problems.

The NRC announced late last week that it was accepting the petition and would delve into Entergy’s finances.

NRC spokesman Neil Sheehan said Friday the commission had already started a similar review of Vermont Yankee’s finances, and would add Pilgrim and FitzPatrick to the review.

The anti-nuclear groups initially filed the petition in March, but it was rejected. They resubmitted the petition with additional information in April and it was accepted by the NRC committee that hears such petitions.

Katz said after the rally Saturday that the groups based their financial concerns on UBS Investment Research documents.

Vermont Yankee is particularly vulnerable to changing power markets, she said, because it is a “merchant” plant and sells its output on the open market. As of March 2012, Yankee no longer has any contracts to sell its power to Vermont utilities and the open market has been depressed because of a strong supply of natural gas.

“They bet on the wrong horse,” Katz said, referring to Entergy’s decision to sell on the open market.

In addition to the Citizens Awareness Network, the Alliance for a Green Economy, Pilgrim Watch and Vermont Citizens Awareness Network, submitted the NRC petition…… http://rutlandherald.com/article/20130811/THISJUSTIN/708119

 

August 12, 2013 - Posted by | business and costs, politics, USA

4 Comments »

  1. […] Entergy’s finances being probed by Nuclear Regulatory Commission (nuclear-news.net) […]

    Pingback by Nuclear Regulatory Commission Is Using Obviously Faulty Models to Pretend Crumbling Nuclear Reactors Are Safe — State of Globe | August 12, 2013 | Reply

  2. […] Entergy’s finances being probed by Nuclear Regulatory Commission (nuclear-news.net) […]

    Pingback by Nuclear Regulatory Commission Is Using Obviously Faulty Models to Pretend Crumbling Nuclear Reactors Are Safe | Washington’s Blog « Olduvaiblog: Musings on the coming collapse | August 13, 2013 | Reply

  3. […] Entergy’s finances being probed by Nuclear Regulatory Commission (nuclear-news.net) […]

    Pingback by News of the Flotilla at Vernon, 8/10/13 | Vernon Radiation Safety | August 15, 2013 | Reply

  4. Thanks for finally talking about >Entergys finances being probed by
    Nuclear Regulatory Commission nuclear-news <Loved it!

    Comment by manualtb.pixnet.net | August 31, 2013 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: