UBS predicts Entergy will close its Vermont Yankee nuclear power plant soon: that’s the same Entergythat couldn’t keep the power on during the SuperBowl and that can’t keep Pilgrim 1 nuclear reactor up in Massachusetts during a winter storm (down 3 days now, for the third downtime in a month). A few days later, UBS set Entergy up on a quarterly earnings call to mention that Vermont Yankee had already been taken off the New England energy capacity auction, which would make it easy to replace. San Onofre still down in California, Dominion Power closing Kewaunee in Wisconsin, NRC terminated Calvert Cliffs in Maryland, Duke closing Crystal River in Florida, and maybe Vermont Yankee next? How about we pass HB 267 to stop Georgia Power charging for cost overruns for Vogtle 3 and 4 and see how long before Southern Company stops that project?
Andrew Stein wrote for vtdigger 6 February 2013 (updated 7 Feb), In report, financial firm forecasts that Entergy may close Vermont Yankee,
In an investment research letter, the Swiss financial services company UBS Securities anticipates Entergy Corp. will retire one of its nuclear power plants in 2013, and it cites “Vermont Yankee as the most tenuously positioned plant.”
UBS representatives met with Entergy’s new leadership team on Feb. 1, the same day Leo Denault became CEO and chair of the board for the Louisiana-based company that operates the Vermont Yankee nuclear power plant.
And that’s how a clean-broom new CEO often signals his intentions: by bringing in outside experts to provide him cover for what he already intends to do anyway. And this new-broom CEO is Entergy’s former Chief Financial Officer who as CFO has repeated fiddled with Vermont Yankee to try to make it less unprofitable. What did those experts say?Continue reading