Vermont Electric Cooperative’s (VEC) board of directors rejected a 20-year power offer from Entergy to purchase electricity produced at the Entergy Vermont Yankee nuclear power plant at below market prices. Directors voted 9 to 1 to reject the offer at a board meeting on Tuesday afternoon at VEC headquarters in Johnson.
Following an overview of the proposed contract by VEC staff, VEC directors heard presentations from Arnie Gundersen, an independent nuclear engineering and safety expert from Fairewinds Associates, and Michael Colomb, Vermont Yankee site vice president, lwho presented their respective views and answered questions from the board. The meeting was also attended by several VEC members who provided comments during the meeting.
Each VEC director present expressed their position on the VY offer balancing financial impacts against social and environmental concerns. 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.
‘Unfortunately there are no easy energy choices,’ said Dave Hallquist, CEO. ‘However, VEC’s power supply is secure and stable through 2016. We will continue to seek competitively priced, long-term contracts that meet our members’ needs beyond 2016.’
More information about the meeting, along with contact information for VEC directors, can be found on the VEC website at www.vermontelectric.coop.
Johnson, VT- Vermont Electric Cooperative. 4.26.2011
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