The agreement is subject to approval by VEC’s board of directors and is contingent on the plant running after March 2012.
Entergy will provide around-the-clock energy beginning in March 2012 to VEC, which serves about 34,000 people in 74 towns in the US state of Vermont.
The power price for the first year of the contract is fixed and will be $49 per MWh.
Entergy said pricing will be determined annually based on a predetermined formula designed to protect VEC from high market prices while also giving its members the opportunity to benefit from low market prices.
On 21 March, the Nuclear Regulatory Commission renewed Vermont Yankee’s operating license for an additional 20-year term.
Entergy also said the process to explore the sale of the 605MW power plant has concluded without a sale.
