Energy Alternatives: Recent Headlines

Vermont among states with top cutbacks in highway miles driven

VCF Staff — Wed, 26 Nov 2008 21:27:19 +0000

Vermont Public Radio reports that according to statistics released by the Federal Highway Administration, "Vermonters have cut back on driving by more than any other state but one." Indeed "in Vermont, the number of highway miles driven for the month was down 7.9 percent. Only South Carolina was down more, at 8.4 percent. Maine was third at 7.5 percent." Overall, "American motorists drove 10.7 billion fewer miles in September than they did for the same month last year. That's a decline of 4.4 percent." Maine Deputy Transportation Commissioner Greg Nadeu explained that "the decline in the northern New England states is probably greater than the nation as a whole because the region is rural and people are more reliant on their cars to get places."

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Oil dealers get fuel aid funds

VCF Staff — Wed, 26 Nov 2008 20:17:00 +0000

The Brattleboro Reformer reports that "the state is disbursing more than $23 million in fuel heating assistance funds to heating oil dealers in Vermont this week." The oil dealers will also receive a list of the families who qualify for assistance money. "Those who qualify will get on average more than $1,700 to help pay their oil bills this winter." This winter, nearly 14,000 families have qualified. "This week, the state is sending out notifications in the mail to let qualified applicants know they can go ahead and contact their fuel companies for delivery."

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Engineers find more cracks in VY steam dryer

VCF Staff — Wed, 26 Nov 2008 20:13:27 +0000

The Brattleboro Reformer reports that "during a recheck of the results of Vermont Yankee's steam dryer inspection, engineers found that the number of additional hairline cracks in the dryer was actually 18, and not 16, as previously reported." According to Rob Williams, spokesman for the Vernon nuclear plant, "These two additional [cracks] were also likely created in the early years of plant operations and are not a result of metal fatigue that had been seen in some other boiling water reactors that had been through a power uprate." Notably, "the steam dryer inspection was conducted during a recent refueling outage at the nuclear power plant in Vernon. The inspection was the second of three required by the Nuclear Regulatory Commission following the approval of a 20 percent power uprate.

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Closing VY could raise power costs

VCF Staff — Wed, 26 Nov 2008 19:48:36 +0000

The Brattleboro Reformer reports that according to Scott M. Albert, a principal of GDS Associates and a consultant retained by the state to evaluate the alternatives to continued operation of the Vermont Yankee nuclear power plant in Vernon, Vermont, "Replacing the energy supplied by Vermont Yankee with 100 percent renewable energy sources could cost Vermont more than $1.2 billion." Albert maintains that "raising the needed capital 'would be a huge challenge for Vermont's utilities,'" and a "portfolio of renewable resources would cost approximately $73 per megawatt hour (MWh) to develop and operate and would be more expensive than (building a) new fossil fuel generation plant." Notably, "the renewable portfolio suggested by Albert would consist of new wood-burning power plants, improvements to existing small hydro facilities, new wind generation, landfill gas facilities, anaerobic digesters and customer-sited solar photovoltaic systems." This report is "one of five released by Vermont's Department of Public Service on Nov. 20. The reports are intended to inform the Public Service Board and the state Legislature, which are tasked with deciding whether Yankee should be allowed to continue operation for 20 years after its current license expires in 2012."

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Vt. Yankee decommissioning fund suffers big loss

VCF Staff — Wed, 19 Nov 2008 17:41:21 +0000

Vermont Public Radio reports that "a report issued in 2007 by a subsidiary of plant owner Entergy Nuclear shows [that] the Vermont Yankee decommissioning fund as of last year was more than $400 million short of the amount needed to dismantle the plant." The decommissioning fund contains money set aside to pay for dismantling the Vermont Yankee nuclear plant when it shuts down. Since September 2007, the fund has "lost more than 17 percent of its value amid the recent turmoil in the financial markets." The fund also lost $33 million loss in October. This October loss "was larger than the amount the fund had dropped in the previous six months."

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Study predicts energy price increases, dirty air if Yankee closes

VCF Staff — Wed, 19 Nov 2008 16:38:02 +0000

Vermont Public Radio reports that a new study by the Vermont Energy Partnership says "electricity would be more expensive and the air would be dirtier if the Vermont Yankee nuclear plant is closed." The study was conducted by Albany, N.Y., consultant Howard Axelrod, who "looked at alternatives to the aging nuclear reactor. Axelrod conclude[d] that renewable sources - such as wind, wood and solar - won't be able to replace Yankee in the next three years." He also found that "a natural gas plant could generate enough electricity. But [he] says the plant would release carbon dioxide and nitric oxide pollution."

The report " drew immediate criticism from environmentalists" who said the report used "faulty methodology to skew the results." For example, James Moore of the Vermont Public Interest Research Group, said "The study fails to account for the dangers of nuclear waste or the plant's impact on the Connecticut River." Moore also maintains that the study uses "flawed assumptions to get to its conclusion." He commented, "[The report] grossly over-estimate[s] the cost of renewable energy and the cost of energy efficiency. And [it] grossly under-estimate[s] the cost that Vermont Yankee is likely to charge moving forward. And despite all of these manipulated assumptions, their worst case scenario still shows that without Vermont Yankee Vermont's rate will still be better than the average New England electrical rate."

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Vt. utilities look for new power supply contracts

VCF Staff — Wed, 19 Nov 2008 14:54:10 +0000

Vermont Public Radio reports that "the utilities are planning for the day that contracts from the state's two main energy suppliers - Vermont Yankee and Hydro Quebec - expire" by "asking energy firms throughout the Northeast and Canada to come up with proposals for up to 250 megawatts of electricity." Those contracts expire in 2012 and 2016, respectively. Steve Costello, spokesman for Central Vermont Public Service Corporation (CVPS), the state's largest electric utility, explained, "There are two separate requests. The first one totals 100 megawatts and that was filed by CVPS, Green Mountain Power (GMP) and Vermont Electric Co-op. 40 megawatts each for CV[PS] and GMP, and 20 for Vermont Electric Co-op. There we're looking for firm power supply, and we'll be issuing probably a couple more over the next two years in that regard, to essentially diversify our power supplies, give us some new sources, and expand the range of options that we have." In addition, "CVPS and GMP are seeking separate contracts for 150 megawatts of new energy in case the Vermont Yankee nuclear plant is not allowed to operate after 2012." Costello continued, "Essentially what we're asking these bidders to do is tell us what they would charge us for power in the event Vermont Yankee wasn't available to us. So that will give us very clear information what the incremental costs of Vermont Yankee's loss will be.''

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Vt Yankee decommissioning may have to wait 60 years

VCF Staff — Fri, 31 Oct 2008 15:16:03 +0000

Vermont Public Radio reports that Entergy, the company that own the Vermont Yankee nuclear plant in Vernon, Vermont, says, "It will have to wait almost 60 years before it has enough money to decommission the plant." Indeed, Entergy says it will wait 18 years to add $60 million to the plant's decomissioning fund. In response, "lawmakers are likely to try again to force Yankee to set aside funds for decommissioning." Notably, the decommissioning of the plant is expected to cost around $875 million. With the recent economic crisis, the value of the decommissioning fund has dropped signifiantly. It is now worth around $397 million.

"Last spring, Governor Jim Douglas vetoed legislation that would have clearly made Entergy responsible for covering the full cost of dismantling the plant. The bill required Entergy to come up with the money - or a line of credit - to pay for decommissioning when Yankee's license expires in 2012." Representative Tony Klein, who chairs the House Natural Resources and Energy Committee, says that bill will be introduced again.

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VEDA to offer efficiency grants to businesses

VCF Staff — Thu, 23 Oct 2008 20:26:53 +0000

Vermont Public Radio reports that the Vermont Economic Development Authority (VEDA) has launched a $1 million program to "help state's businesses become more energy efficient." Through the program, smaller companies can "borrow as much as $150,000 to pay for energy conservation projects" at a two percent interest rate. "VEDA will require businesses that want larger loans to work with Efficiency Vermont. Those projects will be evaluated to make sure they are cost effective."

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Economy takes toll on VY closing fund

VCF Staff — Thu, 09 Oct 2008 20:21:02 +0000

The Brattleboro Reformer reports that since this time last year, Vermont Yankee nuclear plant's decommissioning fund has "lost nearly $43 million, $30 million of that in the last six months alone." Indeed, "as of Sept. 30, there was $397,035,937 in the fund, down from $440 million last September." The money in the decommissioning fund will be used to lean up the nuclear plant's site and "return it to public use when the plant is closed down." Some estimates put the cost of the site clean up between $800 million and $1 billion.

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