Yankee owners file power price deal w...

Yankee owners file power price deal with utilities

There are 44 comments on the Brattleboro Reformer story from Dec 18, 2009, titled Yankee owners file power price deal with utilities. In it, Brattleboro Reformer reports that:

Under pressure to make their case for a 20-year license extension, Vermont Yankee's owners Friday outlined their proposal for a new power purchase agreement with state utilities, but lawmakers and the utilities denounced it as insufficient.

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ron keith

Land O Lakes, FL

#1 Dec 19, 2009
So where are the price quotes for the wind turbines? Why doesn't the reformer go out and get the real cost to consumers if we rely on wind and solar. The only ones making money even then will be the producers. I am all for more energy production in Vt but if we hold the wind and solar builders to the same standards as Shumlin is holding VY to none will be built. He needs to admit he is anti nuclear power and has no regard for the consumers of VT.
Whit

Bellows Falls, VT

#2 Dec 19, 2009
That plant needs a different new owner. The bad faith and dishonesty of the current owner reveals character not to be trusted with the requirements of safe operation. Yet we need nuclear power because otherwise we'll be contributing more to global warming. Until the last coal plant is shut down, we need to keep nuclear running.

Nevertheless, we should shut Vermont Yankee down unless this plant is sold to an owner whom we can trust. That must be a current operator of other nuclear plants, without significant debt, willing to make a fair deal with Vermont.
mike mulligan

Roslindale, MA

#3 Dec 19, 2009
The nuclear industry, Entergy and Vermont Yankee just don’t have a sufficient ideology to carry VY past 2012...thier ideology is insufficient to run the plant safety....insufficient to build the fleet of new power plants...

Relicensing only a few years ago was a slam dunk until the real ideology reared up its ugly head.

Are you the ron keith who was an operator at VY?
Nstar

Woburn, MA

#4 Dec 19, 2009
These are the same politcians who were willing to pay up to 30 cents per killowatt for other sources. Go figure. We also need to consider the spot market price outside of the current recession.
Mike Mulligan

Roslindale, MA

#5 Dec 19, 2009
We are never going back to the Christmas we had last year or the year before that. Them days are over for the foreseeable future.

How many of us are searching for the Christmas we had last year and are never going to find it again?
Tired of the Bull

East Sandwich, MA

#6 Dec 19, 2009
Let me get this straight, they are offering to double the price and it seems offer less (115Mw)power than the current agreement if I understood Rep Klein's statement?? Time to shut it down. This company continuously engages in doublespeak which may end up costing more in the long run through renegotiation of power costs or a renege on their word which I am sure is written in stone. They are after all only operating for the benefit of all Vermonters!?!
Brattleboro

Augusta, ME

#7 Dec 20, 2009
mike mulligan wrote:
The nuclear industry, Entergy and Vermont Yankee just don’t have a sufficient ideology to carry VY past 2012...thier ideology is insufficient to run the plant safety....insufficient to build the fleet of new power plants...
Relicensing only a few years ago was a slam dunk until the real ideology reared up its ugly head.
Are you the ron keith who was an operator at VY?
Ideology - what in the name of common sence are you talking about. You would not know true ideology if it slapped you in the face.
Brattleboro

Augusta, ME

#8 Dec 20, 2009
Tired of the Bull wrote:
Let me get this straight, they are offering to double the price and it seems offer less (115Mw)power than the current agreement if I understood Rep Klein's statement?? Time to shut it down. This company continuously engages in doublespeak which may end up costing more in the long run through renegotiation of power costs or a renege on their word which I am sure is written in stone. They are after all only operating for the benefit of all Vermonters!?!
A ture anti from out of state, who uneffected by the power offer and who is lying about the amount of increase. Hey ANTI stay out of Vermont and let Vermonters run Vermont. Yes the power offer was for more, but it is a 20 year deal, no other power producer has made such a great offer to Vermont.
Brattleboro

Augusta, ME

#9 Dec 20, 2009
As of 0856 on Sunday morning the spot price for electric power was 14 cents per kilo watt. More than twice the cost of VY's offer.
Mike Mulligan

Roslindale, MA

#10 Dec 20, 2009
It is interesting the NYISO is about 50 bucks while the NEISO now is about 100 bucks...why does there seem to be a shortage of electricity in the NEISO. Did a big unit trip off the line?
Mike Mulligan

Roslindale, MA

#11 Dec 20, 2009
How about, it was so cold last week, everyone stayed available until the cold spell abated. So a lot of resources are unavailable today undergoing maintenance, preparing for next week load?
herewegoagain

Little Rock, AR

#12 Dec 20, 2009
Brattleboro wrote:
As of 0856 on Sunday morning the spot price for electric power was 14 cents per kilo watt. More than twice the cost of VY's offer.
And right now the price of power on the spot market is $110 per MW ($1.10 per kilowatt.) When you check a price on a Sunday morning as people are just waking up and before they start turning on things of course the price is going to be low. As they get up and start turning stuff on the price will increase. This is also winter time when prices tend to be lower because no air conditioners etc are being run. This is also a sunday morning so many businessed that use alot of power are not up and running. It is all relative.
herewegoagain

Little Rock, AR

#13 Dec 20, 2009
Sorry I want to correct it is $0.11 per kilowatt. Which is almost twice what the offer is.
herewegoagain

Little Rock, AR

#14 Dec 20, 2009
You check reports about market pricing on iso-new englands web site. If you look at the latest (2008) annual pricing report, they have some interesting facts. They do a pricing analysis on the grid here in NE, and with that they throw out all extreme high spot market prices. This gives a more real reflection on the average price because they are not lncuding the short periods where prices jump up as high as $500/MW. The Average MINIMUM price on the spot market in NE was $71.31. (now remember the did NOT throw out the extreme low prices, only highs) The average maximum pricing on the spot market was $80.27. So this means the price Entergy is offering is $10/MW below the average yearly minimum price. Now this offer from them is good for 20 years, can you imagine what the average minimum and maximums will be $20 years from now when gasoline will be $10+ a gallon. Natural gas will be too expensive to use as power generation. I also wouldnt be surprised by that time if there is penalties for using fossil fuels to heat your homes etc because of greenhouse gasses by then.
Mike Mulligan

Roslindale, MA

#15 Dec 20, 2009
It is common courtesy when you reference something on the internet you provide the link. I would do that if I referenced a report.
Mike Mulligan

Roslindale, MA

#16 Dec 20, 2009
Mike Mulligan

Roslindale, MA

#17 Dec 20, 2009
The key results and major findings for the wholesale markets in 2008 concern the price of electric
energy compared with past years’ prices; higher, more volatile fuel prices and their impact on
electricity prices; and a reduction in the consumption of electric energy. In 2008 in New England, the
average real-time price of electric energy at the Hub rose 21% over 2007 levels to $80.56/megawatthour
(MWh).4 This was driven by a 25% increase in the cost of natural gas and a 42% increase in the
cost of No. 6 oil.5 Average annual fuel prices for 2008 were the highest since New England
restructured its wholesale electric markets in 1999.
Mike Mulligan

Roslindale, MA

#18 Dec 20, 2009
The increase in electricity prices was moderated by a drop in electric energy consumption of about
2% in 2008. This drop was caused by three factors—a decline in economic activity, more efficient
use of electricity, and higher prices—and means that electric energy consumption still is below its
annual maximum, which was reached in 2005.
Mike Mulligan

Roslindale, MA

#19 Dec 20, 2009
Natural gas price increases
translate directly into wholesale electric energy price increases because natural gas often is the
marginal fuel in the region, setting the wholesale electricity price about 62% of the time in 2008.
Mike Mulligan

Roslindale, MA

#20 Dec 20, 2009
The electricity markets were faced with extremely volatile fuel prices during 2008. In early 2008, fuel
prices continued an increase that began in late 2007, peaking in summer 2008. By the end of the year,
prices fell back to 2007 levels or below. During the week of July 4, 2008, the average price of
imported crude oil was $142.52/barrel.16 This price declined to $32.98/barrel in the last week of 2008.

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