Vermont Yankee: Entergy Nuclear Power Station to Close in 2012

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Yankee Power Plant Vernon Vermont

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Vermont Yankee nuclear power plant is set to be closed in 2012. The Vermont Senate voted today and rejected Entergy Corp's plan to extend Vermont Yankee's operation for another 20 years.

The Vermont Senate rejected the nuclear power station's re-licensing by an overwhelming majority of 26-4. The state is growing increasingly skeptical of Entergy Corp's practices. Increasing levels of radioactive material has been found in testing wells on the nuclear power plant.

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Before the vote, Senate President Peter Shumlin said, "Don't do business with someone you can't trust."

People supporting the closure of Vermont Yankee say the nuclear power station is getting old and unreliable, and that Entergy Corp is not trustworthy.

The Senate vote does not mean a final verdict for Vermont Yankee, since the Senate can reverse the decision after the election in November.

Entergy Corp said in a statement that the fight for re-licensing is "far from over".

Entergy Corporation's stock (ETR) closes with -0.67 at $76.73.