Two dozen groups urge State of MA to divest from Entergy due to safety and economic risks at Pilgrim
Beyond Nuclear has signed onto an effort spearheaded by the Association to Preserve Cape Cod, and endorsed by two dozen local groups, to urge the State of Massachusetts to divest more than $8 million invested in Entergy. The signatory groups cited the economic and safety risks associated with the nuclear utility's problem-plagued Pilgrim atomic reactor. A June 4th letter was sent to Governor Patrick and Treasurer Grossman, as described in a June 9th press release.
NRC recently placed Pilgrim on its "degraded" performance short list. The only other reactor in the country with a worse performance designation is FitzPatrick in upstate New York. Both Pilgrim and FitzPatrick are General Electric Mark I boiling water reactors, identical in design to Fukushima Daiichi Units 1 to 4.
Entergy's Palisades atomic reactor in Michigan was similarly designated one of the worst performers in the U.S. a couple years ago, after not one but two near-misses in 2011, and yet another one in 2012, as documented by David Lochbaum at Union of Concerned Scientists.
A year ago, energy economist Mark Cooper of Vermont Law School identified Entergy's six merchant reactors (half its national fleet), including Pilgrim, as at risk of near-term shutdown. This is due to a variety of factors, including economic uncompetitiveness and needed, costly safety repairs. In August 2013, Cooper was proven right, when Entergy announced the permanent shutdown of Vermont Yankee (another Entergy GE BWR Mark I) by the end of 2014.
The State Treasurer of Massachusetts has responded to the Association to Preserve Cape Cod, expressing strong support for the efforts to permanently close Entergy's Pilgrim atomic reactor. However, the State Treasurer has indicated that divestment of state pension funds from Entergy would require the enactment of legislation -- that is, action by the state legislature, as well as the governor.