Entergy pays state, cleanup fund
MONTPELIER — The state of Vermont announced Thursday it had received $5.3 million as expected from Entergy Nuclear for the development of clean energy, as well as confirmation that Entergy had deposited $10 million into a special fund toward the cleanup of the Vermont Yankee site.
Both payments were part of the settlement agreement and memorandum of understanding reached between the Shumlin administration and Entergy Nuclear at the end of 2013. The agreements were recently approved and ratified by the Vermont Public Service Board.
The $5.3 million will be administered by the Public Service Department’s Clean Energy Development Fund, to support the development of renewable energy sources all over Vermont.
At least 50 percent of the funds, according to the agreement, will be spent for clean energy development in Windham County, or for the benefit of the county.
The site restoration fund will be held in trust, and grow in time and will be used to help restore the Vernon site after decommissioning of Vermont Yankee is completed.
The state’s Clean Energy Development Board will hold a public hearing in Brattleboro at 5:30 p.m. Wednesday at Brattleboro Union High School to take comments from the public about the clean energy fund and development.
On Wednesday, Entergy announced it had donated $50,000 to the Vernon Elementary School to be used for new computers and other projects.
Vermont Yankee is expected to shut down in December 2014, about 18 years before its federal license expires.
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