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The Boston Globe

Metro

Vermont nuclear power plant to close in 2014

Energy prices spell the end

The owner of the Vermont Yankee nuclear power plant said Tuesday it would shutter the controversial facility by the end of next year, putting hundreds of employees out of work, about a third of them from Massachusetts, and raising questions about the future of the region’s other nuclear plants.

The plant has withstood years of legal battles with the state and persistent protests about its safety, but in the end, officials at Entergy Corp. said they decided to close the aging reactor along the Connecticut River because of economics. A steep drop in natural gas prices in recent years led to plummeting wholesale electricity prices. That loss of revenue, as well as increased costs to comply with new federal and regional regulations, made it difficult to run the plant at a profit.

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