What will become of excess decommissioning funds?

3 July 2002

Vermont regulators are sorting out what will become of any excess funds from Vermont Yankee's decommissioning trust if would-be owner Entergy Nuclear Vermont Yankee (ENVY) does not use all the money for the eventual clean up of the site.

State regulators' approval is the last needed before the plant sale can close. Entergy is buying out the interests of the 12 existing shareholders of the Vermont Yankee Nuclear Power Corporation (Vynpc) for $180 million. The deal is expected to close in late July.

The anti-nuclear New England Coalition on Nuclear Pollution (Necnp) recently questioned several decommissioning issues agreed to in a memorandum of understanding signed in March by ENVY, Vynpc, and the state's consumer advocacy agency, the Vermont Department of Public Service. The Vermont Public Service Board ordered the parties to respond by 3 June to the Necnp's assertion that Entergy should return any leftover funds to the ratepayers. Necnp and the antinuclear Citizens Awareness Network asserted that Vermont Yankee customers are, and should remain, the trust fund's beneficiaries. They urged the PSB to reject giving ENVY or Entergy "any excess amounts remaining" in the fund after decommissioning is done.

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