Vermont Yankee’s $60 million dilemma

first_img NRC makes Vermont Yankee license renewal official | Vermont … Mar 21, 2011 … In a letter dated March 21, 2011, US Nuclear Regulatory Senior Project Manager Robert Kuntz notified Michael Colomb, Entergy Vermont Yankee … Aug 27, 2002 … Vermont Yankee finally sold to Entergy by Robert Smith The deal had more than its share of up and down moments, but the sale of the Vermont … Northstar Vermont Yankee,By Kate Duffy, Vermont Business Magazine. Entergy Nuclear has a $60 million decision to make ‘ whether to invest in refueling Vermont Yankee, even though a federal judge refused to issue a preliminary injunction assuring the company it could continue operating the plant while its lawsuit against the state is pending. US District Court Judge J Garvan Murtha denied the request for a preliminary injunction in a decision issued Monday afternoon. He said Entergy failed to prove during a two-day hearing in June that it would suffer ‘irreparable harm’ before the case, schedule for trial in September, is decided.During the hearing, Entergy’s lawyers argued that without an injunction that would let it plan for future operations, the company may be forced to shut down the plant before its current license expires in March. It would be unlikely to make a $60 million investment in fuel rods without an indication from the court that it might win its case. ‘Entergy, while it has raised the possibility, has not persuaded the Court that a decision to shut down is likely and imminent,’ Judge Murtha wrote in the 18-page decision. Entergy is suing the state in federal court over whether a law that effectively gives the Legislature the right to shut down a licensed, operating nuclear power plant is constitutional. Vermont Yankee, the state’s only nuclear power plant, is slated to shut down on March 21, 2012, at the end of its original 40-year operating license. Citing the plant’s age and history of radioactive leaks, last year the Senate voted 26 to 4 not to allow the Public Service Board to issue a certificate of public good to let the plant operate beyond its scheduled shut-down. In March, the Nuclear Regulatory Commission, which regulates all of the nation’s 104 nuclear power reactors, approved a license extension that would allow the plant to continue generating power for another 20 years. Entergy says the plant is safe and reliable and should be allowed to continue operating. It had hoped a preliminary injunction would allow it to do so while the case is pending. Vermont Attorney General Bill Sorrell, a Democrat, said the state had won an important battle but still has a war to wage. ‘This was a nice win, but really what’s better is that the preliminary injunction was not issued,’ Sorrell said. ‘If one had been granted, that would have been a devastating blow to us because it would have required the finding by the judge, based on his understanding of the facts and the law, that it was likely that Entergy would prevail on the merits of the case as a result of the trial. We would have been really knocked backwards if that were the case.’ In ruling on the failure to prove irreparable harm, Judge Murtha did not address whether he thought Entergy could win its suit based on the merits of its case. ‘I was a little bit surprised that he so carefully skirted the merits,’ said Pat Parenteau, an attorney and professor at Vermont Law School who has been closely watching the case unfold. ‘He gave a few hints of what’s troubling him and things he wants to see addressed at trial. It’s like reading tea leaves in the opinion. But I was not at all surprised he found no irreparable harm.’ Parenteau noted it is extremely difficult to prove irreparable harm in a case like this. Instead, he noted the judge fast-tracked the case, scheduling the trial for September 12-14, in order to address the merits of the case and make a final decision. ‘The judge expressed no views whatsoever on the constitutional issues that Entergy has raised,’ Parenteau said. ‘Reading between the lines, what I see is a judge who believes the state has a right to close the plant for the proper reasons, but a judge who is not 100 percent convinced the state has done that.’ In a statement issued to reporters, Vermont Yankee spokesman Larry Smith said the company is ‘disappointed in the outcome.’ He made no indication of whether it will buy the fuel needed for the plant ‘ a decision he previously had said would have to be made by July 23. ‘Our request for a preliminary injunction was about keeping the plant’s workers employed, the plant running safely and the electric grid reliable until this case is resolved. In the upcoming days, we will be evaluating Judge Murtha’s opinion and assessing the company’s near-term options.’ RELATEDCourt denies preliminary injunction in Vermont Yankee caseThe Federal District Court for the District of Vermont issued a decision Monday evening in favor of the State of Vermont and denied Entergy’s request for a preliminary injunction that would have prevented the State from enforcing its laws during the pendency of the litigation. In a prepared statement, Attorney General William Sorrell called the decision ‘a very good first step in an important case.’  Mar 3, 2010 … Vermont Yankee engineers and technicians continue their investigation into the source of tritium in the plant’s groundwater.www.vermontbiz.com/node/14600 Vermont Yankee finally sold to Entergy | Vermont Business Magazine Vermont Yankee narrows search for tritium leak | Vermont Business …last_img read more

10 investing apps to supercharge your portfolio

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr With a few taps, these apps turn your mobile device into a portable portfolio or investment tracker.by: Lou CariozoBefore Apple launched the App Store in 2008, investing via smartphone pretty much meant calling your broker or financial advisor. Remarkably, it now only takes a tap or two to locate valuable investment information or move your money from one asset to another. What’s more, you can do it in seconds, without anyone’s help, let alone a busy signal or hold time.“Investing is an inherently fast-paced, on-the-go industry, rendering it an especially good fit for mobile technology,” says Raul Moreno, co-founder and CEO of iBillionaire, an app and website that provides access to investment data and strategies of self-made billionaires.In fact, it’s gotten to the point where you can track information and choose investments with all of the ease of putting Rover on a leash. “Observing, managing and reviewing investments is now, for the first time ever, being done while in line for coffee, in a cab or walking a dog,” says Hart Lambur, co-founder of Openfolio, which applies a social media-type logic to its financial app.That’s not to say investment apps are without issues. Critics insist some apps make it too easy to trade on impulse, especially when investors need less portfolio turnover, not more. But apps have their advantages, including lower fees and the capacity to keep investors constantly informed. continue reading »last_img read more

Chris Paul helps Clippers sink Washington Wizards, 108-91

first_img“We’re short-handed,” said Porter, who has mostly been a starter this season. “And I’m just trying to help the guys out any way I can.”Griffin, the league’s slam dunk champ in 2011, will be sidelined for at least two weeks with a partially torn quadriceps.Paul picked up the slack for at least one night.His first dunk came on an uncontested break that capped a 21-6 game-opening run. After taking Luc Mbah a Moute’s pass and flushing it home, Paul raised his arms in a mix of triumph and disbelief toward his celebrating bench and coach Doc Rivers.“I was just surprised,” Paul said. “Don’t look at me, look at everybody on the bench. Like Doc was even with his hands up and I was sorta just like, ‘I don’t know.”’Paul failed to grab the rim on his second, but still sent his teammates leaping down the baseline in delight after slicing through Washington’s defense and finishing over the defending Kelly Oubre. His free throw completed a three-point play to make it 53-34.Pierce’s returnPaul Pierce scored nine points for the Clippers in his first game in Washington since helping the Wizards to last season’s Eastern Conference semifinals.He remembered that season fondly, even though he chose the Clippers over the Wizards in free agency this offseason.“Just being around the young guys, teaching them every day, talking to them, this was one of my funnest years,” said Pierce. “I embraced the city. They embraced me back.”He said his offseason decision stemmed from his relationship with Rivers and a desire to return to his home city, not any bad feelings toward Washington. WASHINGTON >> With one of the game’s best dunkers grounded by an injury, Clippers point guard Chris Paul made his own mark above the rim.Don’t count on it becoming a habit.The 6-foot All-Star surprised even himself by dunking twice during a 23-point performance, helping Los Angeles defeat the Washington Wizards 108-91 in their second game without the injured Blake Griffin.“I met my quota,” Paul said of his aerial prowess. “I usually get one or two for the season.” DeAndre Jordan had 15 points and 13 rebounds as Los Angeles won its third straight.Reserve Jamal Crawford added 21 points, part of 54 scored by substitutes in a game the Clippers never trailed and led by at least 10 for the final three quarters.“Our bench was amazing tonight,” said Paul, who was afforded the luxury of sitting the entire fourth quarter. “I was probably the biggest cheerleader because I was saying I didn’t want any more action.”John Wall had 23 points and 11 assists, and Marcin Gortat added 12 points and 16 rebounds as the Wizards’ four-game win streak was snapped.Otto Porter added 21 points off the bench in his second game back for Washington after missing three with a thigh issue. The Wizards are still dealing with injuries to starting guard Bradley Beal and reserves Nene, Gary Neal and Drew Gooden.center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more