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Vt. board allows nuke plant operation through '14

Published on NewsOK Modified: March 28, 2014 at 1:13 pm •  Published: March 28, 2014
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MONTPELIER, Vt. (AP) — The utility-regulating Vermont Public Service Board says the Vermont Yankee nuclear plant can continue to produce electricity through the end of the year when the plant is scheduled to close.

In a Friday ruling, the Public Service Board also approved an agreement between the state and plant owner Entergy that requires the company to pay $10 million for economic development in Windham County and to set up a $25 million fund to restore the Vernon site after the nuclear plant is decommissioned.

Vermont Public Radio (http://bit.ly/1lrU8Mr ) reports the board approved a memorandum of understanding between Entergy and the state that was signed in December, ending years of legal battles.

Vermont Yankee has been producing electricity for more than 40 years, but it will cease operations later this year.