Vt. Yankee decommissioning fund suffers big loss
A state report says the fund set aside to pay for dismantling the Vermont Yankee nuclear plant when it shuts down took a big hit in October, losing more than $33 million.
A report issued in 2007 by a subsidiary of plant owner Entergy Nuclear shows the Vermont Yankee decommissioning fund as of last year was more than $400 million short of the amount needed to dismantle the plant.
And in the 13 months since September of 2007, a fund then pegged at $440 million has lost more than 17 percent of its value amid the recent turmoil in the financial markets.
State figures show that the $33 million loss in October was larger than the amount the fund had dropped in the previous six months.