Vermont Yankee decommissioning fund recovers $80 million in one year

The market value of the Vermont Yankee decommissioning trust fund accounts is now at $428,451,492, according to Entergy Vermont Yankee. That is a gain of more than $80 million in value in one year. The Vernon, Vermont, based nuclear power plant is seeking to extend the plant's license for 20 years beyond 2012, when the original 40-year license is scheduled to expire.
Yankee's Rob Williams said in a prepared statement, "Our continuing obligation is to ensure the fund meets the NRC-required amounts. Per an NRC request, Entergy Vermont Yankee will put in place later this month a parent company guarantee that further ensures that the obligation will be met. After meeting the NRC decommissioning requirements, Entergy Vermont Yankee also has the obligation to restore the site to a green field. We estimate that cost to be about $40 million. That is an obligation we took on when we accepted the terms of the purchase of the plant in 2002."
The timing of the above commitments, Williams said, depends largely on whether the plant's operating license is renewed and when the US Department of Energy removes all of the spent nuclear fuel from the Vermont Yankee site. Although DOE is ultimately responsible for covering the cost for temporary onsite storage, Entergy Vermont Yankee is paying that cost in anticipation of reimbursement from the federal government.
Meanwhile, he said the construction activity on Vermont Yankee property north of the plant continues with the new transmission substation about 80-percent complete. The facility is being built on several acres of land leased to VELCO by Entergy Vermont Yankee. The project will enhance the reliability of the New England electrical grid.