1-2-14 – Entergy Settlement

by John McClaughry

Back in September I recited Gov. Shumlin’s decade-long war against Entergy Nuclear, and expressed considerable skepticism about his willingness to be nice to Entergy as it closes Vermont Yankee over the next few years.

I said back then: “With this long, outspoken, and unbroken record of opposition to the nuclear plant and its corporate owner, can we expect Peter Shumlin to now seek “better relations” with Entergy? It’s far more likely that he, his regulators and lawyers, and his legislative friends will spend the rest of his time in the Governor’s office extorting every last dime out of Entergy to fund their own pet projects, and when that is pushed as far as it can go, forcing Entergy to spend as much as possible through more of the “cumulative regulation” that Entergy says contributed to its decision to close the plant.”

Last week Shumlin and Entergy announced a partial agreement, and sure enough, the report said “Entergy will also make payments to the state for regional development and close the $12.5 million hole in lost taxes from the plant’s closure. Payments to the state include $5.2 million for the Clean Energy Development Fund…”

Ever since he returned to the Senate in 2007, Shumlin has sought every opportunity to replenish his cherished Clean Energy Development Fund, his honey pot for then high income renewable energy set. Now he has grabbed another $5 million by shaking down Entergy one last time.

John McClaughry is the founder and current vice-president of the Ethan Allen Institute.

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