Entergy Corporation and the State of Vermont reached an agreement on the sale of Vermont Yankee in Vernon, VT to a subsidiary of NorthStar Group Services, Inc. (NorthStar). When the plant came offline for economic reasons in December 2014, Entergy estimated decommissioning and site restoration would cost $1.2 billion and take 60 years. However, NorthStar estimates decommissioning could begin as early as 2019 and take seven to nine years. NorthStar expects to finance the project via a trust that currently holds $570 million, along with cash guarantees from NorthStar ($140 million) and Entergy (up to $40 million). Supporters of NorthStar’s plan include Vermont’s attorney general, the town of Vernon, and other state and local stakeholders. Critics argue that NorthStar’s plan leaves citizens financially and environmentally vulnerable should problems arise and that NorthStar itself lacks requisite experience.
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