Entergy Nuclear Vermont Yankee will sell power from its Vermont Yankee nuclear plant in the US to Vermont Electric Cooperative, under a 20-year agreement.
The agreement is subject to approval by VEC's board of directors, and depends on the factors that the plant continues to operate after March 2012.
The firm will provide power beginning in March 2012 to the Vermont Electric that serves about 34,000 people in 74 towns throughout northern Vermont.
The power price for the first year of the contract is fixed and will be $49 per megawatt hour.
Recently, the Nuclear Regulatory Commission renewed Vermont Yankee's operating licence for an additional 20-year term.
Entergy had planned to sell off the 605MW nuclear plant; however, it was unable to do so due to uncertain political environment.