Traditionally the Nernst and Ettingshausen effects in the vortex liquid are described in terms of the "transport entropy" of vortices, S d . According to current theories, the main contribution to S d is originated from the electromagnetic free energy, F em , which includes kinetic and magnetic energy of superconducting currents circulating around vortex cores. However, this concept contradicts the London postulate, according to which a supercurrent consists of macroscopic number of particles in a single quantum state and does not transfer any entropy. Here we resolve this contradiction and show that the transport entropy is just ordinary thermodynamic entropy transferred by cores. Only in this form the theory becomes simultaneously consistent with the London postulate and the Onsager principle. The revised theory explains measured temperature dependence S d . The linear increase of S d at low temperatures is determined by the entropy of electrons in the core, then S d reaches a maximum at roughly Tc/2 and then vanishes due to increase of the background entropy.