The three members of the Vermont Public Service Board are about to get more free advice than all the Boston Red Sox managers combined. That’s because the best case the opponents of the Vermont Yankee Nuclear Power Plant have to shut the plant down is to convince the PSB that it is no longer worthy of a Certificate of Public Good.
As state auditor, it is my duty to evaluate the performance of state government. I would be remiss if I didn’t point out that state government has wasted a lot of taxpayer money trying to destroy a flawed but valuable asset.
Vermont’s attempt to close the plant last year was carefully worded to forbid the PSB from considering the plant’s application for a Certificate of Public Good. Why? The PSB’s mission is, in part, “to ensure the provision of high quality public utility services in Vermont at minimum reasonable costs, consistent with the long-term public good of the state.” Then Senator Peter Shumlin and his allies were afraid the Public Service Board would make a decision based on its mission.
Vermont Yankee produces baseload electricity at about 4 cents per kilowatt hour and has offered to renew contracts at about 6 cents. Wind turbines produce it intermittently at closer to 20 cents/kwh as mandated by the Legislature.
Despite some serious transgressions over the years by Entergy, the plant’s owner, the PSB could not ignore the cost factor, the near zero greenhouse gas emissions, taxes paid to the state and the impact of more than 1,000 jobs.
When the cost of electricity is factored into the current economic climate for other Vermont businesses, it is easy to see why VY’s opponents would be worried.
Now that Vermont’s defense of that law has been rejected in federal court at great expense to taxpayers, we’re back to square one at the Public Service Board.
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