VERMONT -- Vermont Yankee Nuclear Power Station will close by the end of next year. Entergy, which owns the plant, made the announcement on Tuesday.
The company says the station will end production after its current fuel cycle and move into a safe shutdown phase starting in the fourth quarter of 2014. It will create a decommission organization to plan and execute a safe shutdown.
The company says there were several financial factors which led to the decision to shut down the plant. Entergy says the operating cost for a single unit plant like Vermont Yankee is high.
During the shutdown process, the plant will remain under the oversight of the Nuclear Regulatory Commission.
The plant first opened in 1972.