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Entergy CEO says nuclear industry hit by capital costs, low prices
August 27, 2013 / 2:42 PM / 4 years ago

Entergy CEO says nuclear industry hit by capital costs, low prices

HOUSTON (Reuters) - Running the Vermont Yankee nuclear plant is no longer economical because capital costs rose after 9/11 and could spike again following the Fukushima disaster, Entergy Corp’s (ETR.N) Chief Executive Leo Denault said on Tuesday.

Denault said low power prices also contributed to the company’s decision to shut the 620-megawatt power station.

He told Reuters that competitive markets do not reward the benefits of nuclear power to electricity grids - in terms of fuel diversity and lower carbon emissions.

Denault added that Entergy is open to a settlement with New York officials over the future of its controversial Indian Point nuclear plant, which is near New York City.

Reporting By Eileen O'Grady; Editing by Terry Wade

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