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Nuclear Costs

Estimates for new reactor construction costs continue to sky-rocket. Conservative estimates range between $6 and $12 billion per reactor but Standard & Poor's predicts a continued rise. The nuclear power industry is lobbying for heavy federal subsidization including unlimited loan guarantees but the Congressional Budget Office predicts the risk of default will be well over 50 percent, leaving taxpayers to foot the bill. Beyond Nuclear opposes taxpayer and ratepayer subsidies for the nuclear energy industry.

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Entries by admin (382)

Wednesday
Apr252018

FirstEnergy files plan to permanently deactivate three nuclear power plants

As reported by Seeking Alpha:

FirstEnergy (NYSE:FE) subsidiary FirstEnergy Solutions says it has formally notified the Nuclear Regulatory Commission of its decision to permanently deactivate its three nuclear power plants over the next three years, citing "severe economic challenges."

"We are actively seeking policy solutions at the state and federal level as an alternative to retiring these plants, which we believe still have a crucial role to play in the reliability and resilience of our regional grid," says Don Moul, president of FES Generation Companies.

The closure of the plants - two in Ohio and one in Pennsylvania - will affect ~2,300 employees.

FES, its subsidiaries and FirstEnergy Nuclear Operating Company have filed for Chapter 11 bankruptcy.

But this game of bait and switch also got played in New York State, as well as Illinois. Reactor closure announcements, and even filing of official closure paperwork with the Nuclear Regulatory Commission, was used as leverage to secure massive bailouts, at ratepayer expense. Then the official paperwork got withdrawn, nullified by more official paperwork. Dave Kraft of Nuclear Energy Info. Service in Chicago checked in with NRC on these paperwork shenanigans, and got explicit word back from the agency that yes indeed, the official paperwork notifying the agency of a reactor's scheduled closure can simply be countermanded, at any point in time.

Wednesday
Apr252018

Grasping for reason with FirstEnergy 

Tuesday
Apr172018

‘FirstEnergy doesn’t want to evolve’ + other critiques

Thursday
Apr122018

Trump may greenlight an $8 billion attack on competitive energy markets

Thursday
Apr122018

FirstEnergy seeks to obtain profit guarantees and to destroy energy markets