VEC Board says no agreement on Vermont Yankee power — yet

By Press Release on April 1, 2011

For Immediate Release: March 31, 2011 VT Digger

VEC Board to Review Entergy Proposal
Johnson, VT- Vermont Electric Cooperative (VEC) officials responded to a press release issued by Entergy Corporation on March 30, 2011. In this press release, Entergy implied that there was an agreement with VEC. Although negotiations to purchase power from Vermont Yankee have
ended, at the present time there is no agreement to purchase power from Entergy beyond March, 2012.

“VEC has been negotiating with Entergy, which has offered VEC a 20-year contract that is below market; however there is presently no agreement,” said CEO Dave Hallquist. “To be clear, entering into a contract with Entergy would be contingent on two additional factors: approval by VEC’s twelve member board of directors and support by the state of Vermont for the continued operation of Vermont Yankee beyond March of 2012,” continued Hallquist.

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