The Vermont Department of Public Service says that a deal reached with Entergy Corp. over a proposal to sell Vermont Yankee to a new spinoff company provides assurances that the company will have the finances to operate the nuclear-power plant.
New Orleans-based Entergy has operations in Stamford.
The announcement was a shift for the department, which had previously recommended that the deal be rejected.
The deal comes as regulators in Vermont and New York consider the corporate spin-off deal in which the new company, Enexus, would operate five other Entergy nuclear-power plants.
Department Commissioner David O’Brien told the Barre-Montpelier Times Argus that among the new guarantees is Enexus’ access to $100 million in revolving credit from Entergy.
Yankee officials said the company has addressed the department’s concerns. (AP)
