Stock analysts saw last week’s news that New York state utility regulators nixed the Enexus move by which Vermont Yankee would be sliced off into a new company with five other nuclear power plants as the end of the line for the deal.

“We expect this vote in New York will end the spin-off plans,” Morningstar stock analysts said.

They also don’t seem to give two hoots about Vermont Yankee’s continued operation after 2012, which makes one wonder if Entergy Corp.’s board of directors will feel the same way.

“Renewal or no renewal, we see little incremental value in the Yankee plant for shareholders based on its relatively high cost, small capacity, and onerous power purchase contracts that we expect to persist for at least another decade. We think a decision to shut down Vermont Yankee when its license expires in March 2012 would not have a substantial impact on our fair value estimate,” the report said.

_ Terri Hallenbeck

Labels: Vermont Yankee