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ARTICLE ARCHIVE

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 from August 1, 2011 - August 31, 2011

Friday
Aug262011

Markey's "Nuclear Power Plant Safety Act of 2011" would require nuclear loan guarantees to consider Fukushima catastrophe risks

U.S. Rep. Ed Markey (D-MA)On March 29, 2011 -- just 18 days after the Fukushima nuclear catastrophe began -- U.S. Representative Ed Markey (D-MA) introduced the "Nuclear Power Plant Safety Act of 2011." Its Section 3 on Loan Guarantees would amend Section 1702(b) of the Energy Policy Act of 2005 (42 U.S.C. 16512(b)) by inserting after paragraph (2) the following: "In the case of a guarantee for advanced nuclear energy facilities, the Secretary [of Energy] shall ensure that the cost of the obligation is calculated using a consideration of the Tohoku earthquake of 2011 to estimate the risk characteristics of the project."

DateAugust 26, 2011 | | Print ArticlePrint Article |