Utilities buy nuclear capacity from New Hampshire as Vermont dismantles nuke plant
Utility companies in Vermont are buying nuclear capacity from New Hampshire while Vermont dismantles its former electricity-generating nuclear powerhouse.
“We got a 20-year contract with NextEra, which is not very typical,” David Hallquist, CEO of Vermont Electric Cooperative, said of his company’s move to stock up on low-cost nuclear generation.
“The generators who are going to be around a long time, such as a nuclear plant, are going to sell long-term contracts. And with the volatility of the forward capacity market … we expect upward pressure (on prices) to continue,” he said.
Hallquist said his company filed a petition with the Public Service Board the last week of June to get approval of the long-range contract with NextEra, a Florida-based energy company that operates a nuclear power plant in Seabrook, New Hampshire. The nuclear plant is attracting business as officials in the Green Mountain State work to decommission Vermont Yankee, a nuclear plant that formerly supplied 70 percent of all electricity generated in Vermont.