Welcome to the nuclear renaissance.
Entergy Corp, one of the largest nuclear-power producers in the US, issued a surprise press release Tuesday, saying it plans “to close and decommission its Vermont Yankee Nuclear Power Station in Vernon, Vermont. The station is expected to cease power production after its current fuel cycle and move to safe shutdown in the fourth quarter of 2014.” Although the press release came from the corporation, it was years of people’s protests and state legislative action that forced its closure. At the same time that activists celebrate this key defeat of nuclear power, officials in Japan admitted that radioactive leaks from the Fukushima Daiichi nuclear catastrophe are far worse than previously acknowledged.
“It took three years, but it was citizen pressure that got the state Senate to such a position”, nuclear-energy consultant Arnie Gundersen told me of Entergy’s announcement.[...]
Despite prevailing in the courts, Entergy bowed to public pressure.
The nuclear-power industry is at a critical crossroads. The much-touted nuclear renaissance is collapsing, most notably in the aftermath of the Fukushima disaster, compounded by the global financial crisis. In a recent paper titled “Renaissance in Reverse”, Mark Cooper, senior fellow for economic analysis at the Vermont Law School, writes, “The problem for old nuclear reactors has become acute.” The costs to operate, and to repair, these plants have prompted operators to shutter five of the 104 operating power generating reactors in the US this year alone, leaving 99. Cooper has identified 30 more that he estimates will be shut down, because “the economics of old reactors are very dicey”.