Entergy to close, decommission Vermont Yankee power station

|About: Entergy Corporation (ETR)|By:, SA News Editor

Entergy (ETR) says it will close and decommission its Vermont Yankee Nuclear Power Station in Vernon, Vt., citing sustained low natural gas prices and wholesale energy prices.

ETR plans to recognize a related after-tax impairment charge of ~$181M in Q3 of 2013, plus $55M-$60M in charges related to future severance and employee retention costs through the end of next year.

The station is expected to cease power production after its current fuel cycle and move to safe shutdown in Q4 2014.