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NEI: Vermont Yankee Closing a Great Loss

WASHINGTON, Dec. 29, 2014 (GLOBE NEWSWIRE) -- Following is a statement from Marvin Fertel, president and CEO at the Nuclear Energy Institute, on the closing of the Vermont Yankee nuclear energy facility.

"Closing Vermont Yankee—a valuable contributor to Vermont and the region's energy security and environmental protection—is both frustrating and disheartening to the nuclear energy industry.

"The employees at Vermont Yankee have played an important role in operating the facility safely, securely, efficiently and reliably during more than 40 years of service to the state. The fact that Entergy is completing this most recent operating cycle at more than 600 days of continuous electricity production and with a commitment to finishing safe and strong is inspiring and motivating to the entire industry.

"Vermont Yankee is an unfortunate and clear example of a situation that should not be replicated in other states. Other nuclear energy facilities—producing affordable electricity safely and reliably—are at risk of premature closure due to competitive electricity markets that are not working for the benefit of consumers or the long-term reliability of the electric grid. It is simply unsustainable and shortsighted to continue to shut down perfectly good energy facilities and put at risk the fundamental values of our electricity system.

"The competitive electricity markets simply are not working as intended. All of this is fixable—but federal, regional, and state policymakers and regulators must address these shortcomings quickly to prevent other power plants from shutting down prematurely."

CONTACT: Contact NEI's media relations staff at media@nei.org, 202.739.8000 or 703.644.8805 after hours and weekends

Source:Nuclear Energy Institute