Electric Utility Rejects Power Offer From Vermont Yankee

04/26/11 5:04PM By Neal Charnoff

(Host) The Vermont Electric Cooperative has rejected a proposed twenty-year contract offer to purchase electricity from the Vermont Yankee nuclear power plant. Of the ten board members voting on Tuesday at VEC's headquarters in Johnson, nine voted to reject the offer. 

Their decision follows the lead previously set by Green Mountain Power and Central Vermont Public Service. 

The board heard from VEC members as well as nuclear industry experts. 

Dave Hallquist is the company's CEO. 

(Hallquist)  "I really think today was a referendum on Entergy's relationship with the state of Vermont. In fact, we as a management team got a clear message not to speak with Entergy again".

(Host) Hallquist says VEC's current purchase contracts will keep the cooperative on solid ground until 2016. 

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vermont_electric_cooperative business politics
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