Vt. Utilities Hit Entergy Over Costs From Nuke Plant Failure

Law360, New York (January 10, 2012, 5:35 PM EST) -- Vermont's two largest power utilities sued Entergy Corp.'s local subsidiary for breach of contract on Monday, seeking to recover $6.6M in increased costs the companies say they incurred when cooling towers at an Entergy nuclear plant failed in 2007 and 2008.

Central Vermont Public Service and Green Mountain Power, which buy power from Entergy at below-market rates through a purchase agreement, blame the two shutdowns on the national energy company's failure to use so-called “good utility practice” in maintaining and repairing Entergy's Vermont Yankee Nuclear Power...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.