Entergy's reactor shutdown is latest victim of U.S. shale boom

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

Entergy's (ETR -0.8%) closing of its Vermont Yankee nuclear reactor is the latest evidence of the financial pressures confronting the U.S. nuclear industry caused by the shale gas boom.

ETR’s news follows Duke Energy’s (DUK) retirement of the Crystal River plant in Florida, Dominion’s (D) closure of the Kewaunee plant in Wisconsin, and Edison's (EIX) retirement of both units at the San Onofre plant in California, as utilities decide that investing in older reactors is no longer commercially viable.

The head of the Nuclear Energy Institute says failure to reform power markets to support nuclear power would “jeopardize reliable electricity supplies."

ETFs: URA -3.4%, NLR -1.4%, NUCL -0.5%.