Thursday, November 15, 2007

As The Wheel Turns...Entergy's Financial Woe's Lie's and Secrets

Entergy this summer filed a application with the NRC to transfer license control of all their deregulated holdings into a new company. Problem is, news that is just coming to light proves that Entergy's aging fleet of reactors, and the funds to decommission them are tens if not hundreds of millions of dollars short of where they ought to be...SpinCo thought this was a good jumping off point for our new blog. Enjoy the read, courtesty of the folks at GNB.

Thursday, November 15, 2007

BREAKING NEWS...Entergy's Vermont Yankee Decommissioning Funds Inadequate

Just in from the fine folks at the the Rutland Herald, Entergy's Decommissioning Fund for the Vermont Yankee plant is WOEFULLY inadequate you ask?

If Entergy's License Renewal Application is denied, it will take a minimum of FIFTEEN years, with the reactor in mothballs for the funds to become available to begin the Decommissioning Process.

More alarming, is that FUSE USA has raised Decommissioning Fund inadequacy as a very serious contention in their filings to stop the wrongful license renewal of the trouble plagued and failing Indian Point reactors in Buchanan New York.

What we are beginning to see here, is that Entergy's financial planning is fatally flawed, that the owner of over 10 percent of America's aging fleet of crumbling reactors does not have enough funds to decommission ANY OF THEM! This disturbing and troubling news takes on far more serious implications in light of Entergy's bid to spin their deregulated reactors off into a new company, thus creating yet another layer of protection between Entergy the parent company, and the various Limited Liability Dummy Corporations created to be responsible for the NRC licenses.

Article published Nov 15, 2007

Study: Yankee can't afford shutdown

VERNON — If Vermont Yankee nuclear plant shut down today, or even in 2012 when its federal license expires, there would not be enough money in its decommissioning fund to pay for it to be dismantled and disposed of safely. The plant would have to be essentially mothballed for 12 to 15 years for its stock market-invested trust fund to build so there was enough money to dismantle it, Entergy Nuclear engineer David McElwee told the Vermont State Nuclear Advisory Panel Tuesday evening.

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