PSB Rejects Entergy Spinoff Proposal

From Vermont Public Radio:

(Host) Vermont utility regulators will not allow the proposed spin-off of Vermont Yankee into a new company.

The Public Service Board said the corporate restructuring was financially risky, and was not good for the public.

As VPR's John Dillon reports, the ruling appears to close the books on the deal.

(Dillon) For several years, Entergy tried to convince regulators and lawmakers that it made sense to borrow $4 billion dollars to create a new company called Enexus. The debt-heavy company would own Vermont Yankee and five other aging nuclear plants.

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