Entergy CEO: Closing VY wouldna t aff...

Entergy CEO: Closing VY wouldna t affect bottom line

There are 15 comments on the Brattleboro Reformer story from Feb 3, 2010, titled Entergy CEO: Closing VY wouldna t affect bottom line. In it, Brattleboro Reformer reports that:

Shutting down Vermont Yankee nuclear power plant in Vernon "wouldn't make much difference in the bottom line," said Entergy Chairman of the Board and CEO J. Wayne Leonard during an conference call to company shareholders about earnings, Tuesday.

Join the discussion below, or Read more at Brattleboro Reformer.

Fran

Putney, VT

#1 Feb 3, 2010
Now why do they want to extend the license for 20 years if they're going to "lose money"? Oh, right. So they can weasel out of the decommissioning agreement like they've done with other plants.
missteps

Sunapee, NH

#2 Feb 4, 2010
I would hardly call conspiracy to mislead public officials on the stand and in government communications with gross negligence to the health of the poeple of Vermont, Massachusetts and New Hampshire, for the furthurance of financial gain a "misstep".It is a crime.
Knowingly continuing to poison the reactor site and probably the Connecticut river with tritium, cobalt 60, zinc 65, and who knows what by continuing to operate at full power is not just irresponsible, it is a crime.
pretty sure

Sunapee, NH

#3 Feb 4, 2010
Crimes against the public affect the bottom line.
hmmmmmmmmmmm

Westland, MI

#4 Feb 4, 2010
Fran you are so full of shit, they have not weaseles out of any other decommissioning at any other plants. No one has because the other plants that have closed already were in state that were regulated at the time and the cost was on the tax payers from day one. Just like VY until Entergy bought them. you can say the lie 1000 times...its still a lie.
Mike Mulligan

Roslindale, MA

#5 Feb 4, 2010
Yea but, will all of the rest of Entergy’s fleet of nuclear plant’s interpret that as a insult directed at them? Work like a dog over all these years and take untold chances to do the right thing for the company...and you disrespectfully throw us under the bus?

What if all the nuclear employees...the whole fleet... thinks Entergy would throw them under the bus...from how the CEO talked about Vermont Yankee.

I see a ton of leaked documents being released to the papers and feds.
observer

Little Rock, AR

#6 Feb 4, 2010
Mike Mulligan wrote:
Yea but, will all of the rest of Entergy’s fleet of nuclear plant’s interpret that as a insult directed at them? Work like a dog over all these years and take untold chances to do the right thing for the company...and you disrespectfully throw us under the bus?
What if all the nuclear employees...the whole fleet... thinks Entergy would throw them under the bus...from how the CEO talked about Vermont Yankee.
I see a ton of leaked documents being released to the papers and feds.
What do you mean disrespectfully throw us under the bus? You have nothing to do with Entergy - never have and never will
Mike Mulligan

Roslindale, MA

#7 Feb 4, 2010
yep
Mike Mulligan

Roslindale, MA

#8 Feb 4, 2010
So all the VY juice is sold into the NE ISO...a value of a billion dollars....how do we know Entergy will plow that money...or any... back into the maintenance and operation of VY?

Their word?
Mike Mulligan

Roslindale, MA

#9 Feb 4, 2010
observer wrote:
<quoted text>
What do you mean disrespectfully throw us under the bus? You have nothing to do with Entergy - never have and never will
Oh you wait, when they shutdown VY and everyone gets thrown out on their butts...that is when the documents will start leaking like a summer thunderstorm...when every one feels that Entergy screwed them.

As I said, the whole Entergy fleet is watching VY, if they get the message they will get thrown under the bus, just chattel like VY...then you get a widespread change of employee perceptions of Entergy and the NRC.

I will make the case Entergy wide now is the time to leak documents about your fleet...now is the time to repair what is broken, everyone will listen to you now and believe you.

On every nuclear event over the next decade, every cough or hiccup at a nuclear plant we will be talking about the Vermont Yankee model...how untruthful Entergy and the nuclear industry has been...how the federal government through the NRC abandoned their peoples.

This is what the media expose did over the last two weeks!
GrnMntBoy

Walpole, NH

#10 Feb 4, 2010
Is this Entergy's way to gain back trust and respect of the people of Vermont by which our govener requested?
If VY's not profitable why again do they need to take any more risks with uprating and polluting for another 20 years? So where is the money to close and clean up this plant?
Vermont can lose 650 VY workers and survive, we can't afford high cancer rates of the citizens living near its plume of radioactive pollution!
No Mr. Douglas this is not a bad dream, its time to wake up and protect the citizens who reside near this aging and dangerous plant.
Fran

Putney, VT

#11 Feb 4, 2010
hmmmmmmmmmmm wrote:
Fran you are so full of ****, they have not weaseles out of any other decommissioning at any other plants. No one has because the other plants that have closed already were in state that were regulated at the time and the cost was on the tax payers from day one. Just like VY until Entergy bought them. you can say the lie 1000 times...its still a lie.
Yankee, Indian Point and FitzPatrick in New York, Palisades in Michigan and Plymouth in
Massachusetts... all of which have insufficient funding for decommissioning vis a vis the agreement made with Entergy.
Part of the application for license extension of VY specifically included that Entergy fund decommissioning. Look it up. Or is it easier to listen to Rob Williams?
Fran

Putney, VT

#12 Feb 4, 2010
By the way hmmmm:

ALL nuclear plants are regulated. D'oh.
Fran

Putney, VT

#13 Feb 4, 2010
Sorry to multiple-post like Mike Mulligan but I forgot to add:

Funny how quickly Entergy has moved from "We're good citizens and partners with Vermonters" to "You need us more than we need you."
hmmmmmmmmmmm

Westland, MI

#14 Feb 4, 2010
Fran wrote:
<quoted text>
Yankee, Indian Point and FitzPatrick in New York, Palisades in Michigan and Plymouth in
Massachusetts... all of which have insufficient funding for decommissioning vis a vis the agreement made with Entergy.
Part of the application for license extension of VY specifically included that Entergy fund decommissioning. Look it up. Or is it easier to listen to Rob Williams?
None of the plants you have listed have been decommissioned yet. Thus if they have not been decomissioned then there is no way they could have weaseled out of the decommissioning costs. That would like me saying you are not going to pay your 2012 income taxes because you haven't paid them yet. BOGUS argument. By the way the agreement that Entergy made in the purchase of VY is much different then any of their other plants. There is one very good reason for Entergy not to fully fund the decommissioning right now. Actually there is a few but I will give you the easiest and best one. If they wrote a check today and funded it 100% at say 800 million (just to have a number). Lets say VY gets closed in March 2012 and decomissioning starts then. Lets just say that investments in general do 1/2 as well as my 401k did this year (20%plus). So the investment grows 10% per year for 2 years. That means in 2012 there will be $968 million in the fund. Guess who gets the excess in the fund.....not Entergy. So they would have given away $168 million. Now lets say VY happens to get license extension. Lets say the investments just average 6% a year for the next 22 years. The fund would have 2.88 billion dollars in it. Even the largest aproximations I have heard for 2032 where around 1.5 billion. That means Entergy would give away $1,300,000,000 to this state. WOW I can't understand why they would want to write the check needed for decomissioning underfunding at decommissioning. Thats just good reason #1...there are many more. Just my public service anouncement on the financial world. Back to your regularly scheduled lying and fear mongering.
hmmmmmmmmmmm

Westland, MI

#15 Feb 4, 2010
Fran wrote:
By the way hmmmm:
ALL nuclear plants are regulated. D'oh.
You really are dumb aren't you. I am not talking NRC regulation etc. VY is a merchant plant, they sell their power on the open market (but they do have a contract for power with GMP and CVPS). They can make whatever they like for profits. If they loose money then they loose money, its the companies problem. In the south where power generation is regulated the state PSB determines the cost of power (not the open market) thus they look at the bottom line and money spent making the power and then allow the company to make a certain percentage profit. Kinda like it used to be here in NE a couple decades ago. Thus because profits are a set price if anything has a cost overrun then the rate payers are required to pay for it (including decomissioning.

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