VEC Board to consider Vermont Yankee offer April 26

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first_imgVEC Board to review Entergy Vermont Yankee proposal, not final yet … Vermont Electric Cooperative (VEC) officials responded to a press release issued by EntergyCorporation on March 30, 2011. In this press release, Entergy … Vermont Electric Cooperative (VEC) directors will consider a twenty-year power offer from Entergy to purchase electricity produced at the Vermont Yankee nuclear power plant at below market prices. One consideration of the proposed agreement with Entergy would require state regulatory approval for the continued operation of the plant in Vermont. At a regularly scheduled board meeting on Tuesday, April 26, 2011, at noon at VEC headquarters in Johnson, the 12-member VEC board of directors will hear from nuclear industry experts following an overview of the proposed contract by VEC staff.  Arnie Gundersen, an independent nuclear engineering and safety expert from Fairewinds Associates, and officials from Entergy will present their respective views and answer questions from the board. The board is expected to vote on the proposal at the meeting. Entergy last week filed two court cases against the state of Vermont. The first one essentially saying that the state Legislature has no right to determine the fate of the Vernon nuclear plant, as that decision should be left to regulators at the state and federal level – the Vermont Public Serivce Board and the Nuclear Regulatory Commission. Entergy also filed an injunction to stop the state from closing the plant. (SEE STORY HERE) ‘Many VEC members have expressed concerns about the Vermont Yankee facility in Vernon and about the rising costs of energy. There are no easy answers,’ said CEO Dave Hallquist.  ‘Our energy decisions come with many tradeoffs. VEC’s power procurement team continually seeks out options that are priced competitively, but lower price tags often come with negative environmental consequences. From wind to nuclear to solar — it’s a balancing act that weighs financial costs against environmental risks.’ ‘Because VEC is a cooperative and a democratic institution, our customers are both members and owners and they elect directors to represent their interests,’ continued Hallquist. ‘The April 26, 2011 meeting should result in a decision that ultimately reflects the overall interests of the VEC membership.’ Elected democratically by its consumers, VEC’s board of directors is responsible for setting policy for Vermont’s third largest electric distribution utility, which serves members in 74 towns in northern Vermont.  Aside from executive sessions, VEC board meetings are open to VEC members and invited guests. Members and others wishing to address the board at the meeting will need advance authorization in accordance with the VEC bylaws and board policy. Audio and video recording of board meetings is not permitted. More information about the meeting, along with contact information for VEC directors, can be found on the VEC website at is external) Source: VEC, Johnson, April 22, 2011RELATED STORIES: Entergy, Vermont Electric Cooperative complete negotiations on … Mar 30, 2011 … Entergy Corporation (NYSE: ETR) today announced Entergy Nuclear Vermont Yankee, LLC has completed negotiations on a 20-year agreement to …center_img Entergy Vermont Yankee sues state of Vermont | Vermont Business … Apr 18, 2011 … Entergy has sought to extend the license another 20 years. It said a shorterextension was not feasible because of the capital investment …last_img

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