PSB hears from public about nuclear spinoff

04/10/08 7:34AM

Residents from Vermont, Massachusetts and New Hampshire are urging Vermont's Public Service Board to use caution as it considers Entergy Nuclear's proposal to spin off its five nuclear plants in the Northeast into a separate company.

At a public hearing last night, many told the board they were opposed to the plan.

Entergy Nuclear must get approval from the state regulatory board to complete its refinancing plan.

At the meeting, some said the proposed holding company, a limited liability corporation, could allow Entergy to avoid financial responsibility for a potential accident, outage or shortfall in the decommissioning fund.

But Vermont Yankee employees who spoke said the spinoff is in the best interests of the state and Entergy employees and stockholders.

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