Utility rejects contract to buy Vermont Yankee power

(Reuters) – A utility in Vermont rejected a contract to buy power from Entergy Corp’s embattled Vermont Yankee nuclear power plant on Tuesday.

The board of directors at the Vermont Electric Cooperative, the third biggest power distribution company in the state, voted nine to one to reject a 20-year offer from Entergy to buy power from the 39-year old nuclear plant at below market prices.

The plant will shut by March 21, 2012 unless the state allows it to continue to operate longer or the company wins a court battle to prevent the state from shutting the plant.

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