ML042080361
| ML042080361 | |
| Person / Time | |
|---|---|
| Site: | Vermont Yankee File:NorthStar Vermont Yankee icon.png |
| Issue date: | 11/05/2003 |
| From: | Robert Williams Vermont Yankee |
| To: | - No Known Affiliation, Office of Nuclear Reactor Regulation |
| References | |
| FOIA/PA-2004-0267 | |
| Download: ML042080361 (2) | |
Text
a-Sienel, Beth From:
Williams, Rob Sent:
Wednesday, November 05, 2003 6:05 PM To:
VTY - All Users
Subject:
Entergy News Release FYI: We are distributing the following news release this evening:
Entergy and Vt. Public Service Department Reach Agreement on VY Power Uprate Proposal BRATTLEBORO, VERMONT -- Entergy Nuclear Vermont Yankee is pleased to announce that the Vermont Public Service Department (DPS) today agreed to fully support Entergy's proposal now before the Vermont Public Service Board to produce up to 110 megawatts of additional electricity at the Vernon plant.
Entergy in return committed to give Vermont benefits valued at more than $20 million through 2012 if the Public Service Board ultimately approves the company's proposal.
Here are the highlights of the agreement:
$4.5 million in ratepayer protection against uprate related outages over the next three years
$2.171 million for crisis assistance to low income Vermonters to prevent winter disconnection
$7.815 million to "Clean and Clear Water Initiative" to clean up waterways including L.Champlain
$200,000 for marketing Vermont to new business investment
$5.5 million generation tax revenue, favorable 10 mw contract VEC and local temporary jobs Additionally, the increased output of 110 megawatts to be produced from nuclear energy will also provide economic and environmental benefits including displacement of the need for fossil fuels for the generation of electricity. The new power also will give added stability to Vermont and the New England region's electrical grid.
Entergy Nuclear Vermont Yankee Site Vice President Jay Thayer, who took the lead for Entergy in negotiating the agreement with DPS and filed testimony with the Public Service Board today, said the agreement is a very positive development in the proceedings before the board.
"We are pleased that we were able to come to an agreement with the Department of Public Service. We believe this is a win-win for the state of Vermont and for Entergy and we look forward to discussing our proposal further in the Public Service Board hearings in January," said Thayer.
Entergy Corporation is an integrated energy company engaged primarily in electric power production, retail distribution operations, energy marketing and trading, and gas transportation. Entergy owns and operates power plants with about 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States. Entergy operates five reactors at four locations in Arkansas, Mississippi and Louisiana under regulatory jurisdictions and five reactors at four sites in Massachusetts, New York and Vermont.
The followinq constitutes a "Safe Harbor" statement uinder the Private Securities Litication Reform Act of 1995: Investors are cautioned that fonvard-looking statements contained in the foregoing release with respect to the revenues, earnings, peiformance, strategies, prospects and other aspects of the business of Entergy 4 I
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f Corporation may involve risks and uncertainties. Actual events and results may, for a variety of reasons, prove to be materially different from those indicated in these fonvard-looking statements, estimates and projections. Factors that could influence actualfiuture outcomes include regulatory decisions, the effects of changes in law, the evolution of markets and competition, changes in accounting, weather, the performance of generating units, fuel prices and availability, financial markets, risks associated with businesses conducted in foreign countries, changes in business plan, the presence of competitors with greaterfinancial resources and the impact of competitive products and pricing; the effect of the Entergy Corporation's policies, including the amount and rate of growth of Entergy Corporation 's expenses; the continued availability to Entergy Corporation of adequatefiunding sources and changes in interest rates; delays or difficulties in the production, delivery or installation of products and the provision of services; and various legal, regulatory and litigation risks. Entergy Corporation undertakes no obligation to publicly update or revise any fonvard-looking statements, whether as a result of new information, fiuture events or othenvise. For a more detailed discussion of some of the foregoing risks and uncertainties, see Entergy Corporation 'sfilings with the Securities and Erchange Commission.
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