Ownership and Operational License
On July 31, 2002, Entergy Nuclear Vermont Yankee, LLC (EVY) purchased Vermont Yankee from Vermont Yankee Nuclear Power Corporation (VYNPC) for $180 million. Entergy received the reactor complex, nuclear fuel, inventories, and related real estate. The liability to decommission the plant, as well as related decommissioning trust funds of approximately $310 million, was also transferred to Entergy. The acquisition included a 10-year power purchase agreement (PPA) under which three of the former owners will buy a portion of the electricity produced by the reactor at a cost of approximately 4.5 cents per kilowatt hour.
Vermont Yankee employs approximately 600 people including the employees that work out of the corporate location on Old Ferry Road in Brattleboro, VT.
As a result of an NRC approved Extended Power Uprate (EPU), Vermont Yankee achieved its new rated power of 1,912 MWth (120% of its original licensed thermal power of 1,593 MWth) on May 6, 2006. The power increase was carried out in steps to allow collection of data on the reactor's steam dryer at various power levels, in accordance with the NRC imposed power ascension test plan.
In 1978, the Vermont Yankee reactor was the subject of Vermont Yankee Nuclear Power Corp. v. Natural Resources Defense Council, Inc., an important United States Supreme Court administrative law case which ruled that courts cannot impose procedures upon the NRC as this exceeds their power of judicial review.
Read more about this topic: Vermont Yankee Nuclear Power Plant
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