There's an agreement between the State and Vermont Yankee on how to close the nuclear power plant.
When it was announced in August that Vermont Yankee will be closing its doors, many questions were left unanswered about how the plant would be decommissioned. Under the plan announced Monday, Entergy will pay $10-million in economic development for the area, $5-million dollars to the state, and set aside another $25-million to pay for site restoration.
The State has agreed not to fight Entergy's continued operation through 2014. They also agreed to start decommissioning as soon as there is enough money to do so. The company has also agreed to move spent fuel pools into dry casks by 2021.
"What does that really mean? As we look forward we believe -- and we can't look into a crystal ball, anything can change -- but if you take the assumptions we all know, it should allows us to decommission the plant in the 2020 period," said Gov. Peter Shumlin.
"We believe this agreement is a good news story for our stakeholders, our owners, our employees, our customers and our communities. And I want to reaffirm what we said back in August, we intend to continue to be part of this community in Vermont," said Michael Twomey with Entergy Corp.
The agreement also dismisses all pending federal litigation between Entergy and the state. Up to 220 Vermonters could lose their jobs after the plant closes next year.
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