Vermont Yankee Nuclear Power Plant to Close

Power Plant

Entergy’s decision to close Vermont Yankee in 2014 was based on a number of financial factors, including:

— A natural gas market that has undergone a transformational shift in supply due to the impacts of shale gas, resulting in sustained low natural gas prices and wholesale energy prices.

— A high cost structure for this single unit plant. Since 2002, the company has invested more than $400 million in the safe and reliable operation of the facility. In addition, the financial impact of cumulative regulation is especially challenging to a small plant in these market conditions.

— Wholesale market design flaws that continue to result in artificially low energy and capacity prices in the region, and do not provide adequate compensation to merchant nuclear plants for the fuel diversity benefits they provide.

Making the decision now and operating through the fourth quarter of 2014 allows time to duly and properly plan for a safe and orderly shutdown and prepare filings with the NRC regarding shutdown and decommissioning. Entergy will establish a decommissioning planning organization responsible for planning and executing the safe and efficient decommissioning of the facility. Once the plant is shut down, workers will de-fuel the reactor and place the plant into SAFSTOR, a process whereby a nuclear facility is placed and maintained in a condition that allows it to be safely secured, monitored and stored.

“We are committed to the safe and reliable operation of Vermont Yankee until shutdown, followed by a safe, orderly and environmentally responsible decommissioning process,” Denault said.

Penn Power Announces New Price to Compare

Penn Power has announced the new default service Price to Compare (PTC) for the period from September 1, 2013 to November 30,2013. The entire rate filing can be found here.

The price for commercial electricity customers will be $0.05971/kWH, which includes the 5.9% GRT.

As of the date of this posting, customers who obtain a fixed price contract can obtain prices that are 2.4% lower than the new rate in order to eliminate all risk of price increases.

To obtain a price quotation, click here.  For a small business price quote, click here.

MetEd New Default Service Price to Compare for Sept 1 Announced

Metropolitan Edison of Pennsylvania announced the new default service Price to Compare for the period from September 1, 2013 to November  30, 2013.  You can read the entire rate filing here.

The price for all commercial electricity customers will be $0.08048/kWH, which includes the 5.9% GRT.

Customers who choose to obtain a fixed price contract, as of the date of this posting, can obtain prices that are 5.3% lower than the new rate, to eliminate all risk of price increases.

To obtain a commercial price quotation, click here.  For a small business price quote, click here.

Penelec Announces New Price to Compare

Electric Meter

Penelec’s Price to Compare is the total of the Generation Charge + Alternative Energy Portfolio Standard + Transmission Charge.  You can read the entire filing by clicking here.

The default service Price to Compare has increased for commercial customers, but decreased for residential customers, as follows

For the period March 1, 2013 through May 31, 2013

  • General Service (GS): 7.011¢/kWh
  • Residential (RS, RT): 6.975¢/kWh

Remember that the Price to Compare changes every three months.  You have no way of controlling your electricity costs without obtaining a competitive fixed price contract.  Contact us for more more information on electricity supply for your non-residential accounts.  Also consider the benefits of Renewable Energy Credits.

New Jersey Electric Rates to Decrease June 1

The results of recent electric auctions for New Jersey has been published.  Effective June 1:

Atlantic City Electric customers will see a 2.84% rate decrease thanks to this auction.

Public Service Electric & Gas customers will see a 3.6% rate decrease.

But the biggest rate decrease related to this auction goes to customers of JCP&L who will see a rate decrease exceeding 6% once the new rates kick in on June 1st.

Please note that these rates are for a short time period.  Fixed price competitive electricity contracts will protect your price levels for the long term.