News Release > Vermont Public Utility Commission Approves Entergy Vermont Yankee Sale
Vermont Public Utility Commission Approves Entergy Vermont Yankee Sale
VERNON, Vermont – The Vermont Public Utility Commission (PUC) today issued an order that approves the proposed sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services for decommissioning the Vermont Yankee Nuclear Power Station site. The PUC also issued an amended Certificate of Public Good, which authorizes NorthStar to own, possess the licenses for, and decommission Vermont Yankee.
Previously, on October 11, the U.S. Nuclear Regulatory Commission approved the transfer of Vermont Yankee’s operating licenses to NorthStar. Entergy and NorthStar are planning to close the sale transaction in early 2019, subject to satisfaction of all closing conditions.
The PUC’s decision is another milestone toward the safe, timely, and efficient decommissioning of Vermont Yankee, which would be a positive outcome for the Town of Vernon, Windham County, the State of Vermont and other stakeholders. In addition, Entergy is continuing to fulfill its corporate strategy of exiting the merchant nuclear power business.
About Vermont Yankee, Entergy and NorthStar
Vermont Yankee, a single unit boiling water reactor located in Vernon, Vermont, began commercial operation in 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002. The plant permanently ceased operations on December 29, 2014.
Entergy Corporation (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 9,000 megawatts of nuclear power. Entergy delivers electricity to 2.9 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of approximately $11 billion and more than 13,000 employees. More information is available at www.entergy.com and vydecommissioning.com.
NorthStar, based in New York, is the country’s most comprehensive facility and environmental solutions company, with more than $600 million in annual sales and licenses in all 50 states. NorthStar owns and maintains a large, nationwide inventory of specialized dismantling equipment and employs more than 3,000 people. More information is available at www.northstar.com.