Vermont's only nuclear plant to close in 2014
The decision to shut Vermont's only operating reactor was based on natural gas prices, the high cost of running the single-unit plant and "artificially low" power prices in the region, New Orleans-based Entergy said in a statement Tuesday.
"The plant was no longer financially viable," Entergy Chairman and Chief Executive Officer Leo Denault said in a phone interview. "We did everything we could to try and keep this plant open from a financial standpoint. That's why we fought the battles we fought legally."
"We will continue to work with Vermont and our regional and federal partners to prepare for and minimize any impacts to our electric grid, energy costs and reliability in the region," Hassan said in a prepared statement. "We also stand ready to work with our partners to assist displaced workers and to ensure that the closure of the plant protects the health and safety of New Hampshire's citizens.
Bradley Olson of Bloomberg News contributed to this report.
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