Could Be Used to Attract New Businesses or Increase Employment in the State

MONTPELIER, Vt. – The Vermont Yankee power plant today offered to provide the state with 25 megawatts of sharply reduced cost electricity during the first three years after the plant’s renewed operating license takes effect in 2012.

The offer – an addition to the post-license renewal Purchase Power Agreement that VY proposed last December– would provide the electricity at a special price of $40 a megawatt (or 4 cents per kilowatt) between March 22, 2012 and March 21, 2015. It could be used as the state government determines, including as an incentive to attract economic development or new jobs at existing workplaces.

The offer was announced at a news conference here by Curt Hébert, Jr., executive vice president of Entergy Corporation, Vermont Yankee’s owner.

Under the terms of the offer, the 25 megawatts of low-cost electricity would be provided if:

• Vermont Yankee receives its proposed 20-year license renewal from the federal Nuclear Regulatory Commission on or before the contract commences.

• The Vermont Public Service Board approves the required Certificate of Public Good to permit VY to continue operating for the additional 20 years.

• The credit terms in the existing Purchase Power Agreement between Vermont Yankee and the utilities it serves will be replicated in the new PPA, which takes effect after license renewal.

• Central Vermont Public Service and Green Mountain Power, the state’s two largest utilities, enter into a 20-year PPA with Entergy and VY under essentially the same terms as those that VY proposed on December 18, 2009.

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entergy-nuclear.com