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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 June 1, 2013 - June 30, 2013

Saturday
Jun082013

San Onofre nuclear plant enters its decommissioning phase, which will take multiple decades and cost billions

As reported by the Capistrano Dispatch:

'...Victor Dricks, spokesman for the Nuclear Regulatory Commission Region IV, which regulates SONGS, said the NRC will continue its oversight of the plant but determination of the impact the announcement will have on existing investigations and licensing actions will have to wait until Edison submits its decommissioning plan.

“The NRC is aware of Southern California Edison’s plans, but the agency is awaiting formal notification of the utility’s actions,” Dricks said. “Once Southern California Edison formally notifies the NRC that it has permanently removed all fuel from the San Onofre reactor cores, the NRC will use its existing processes to move San Onofre to the agency’s decommissioning oversight structure.”

In a conference call with reporters early Friday, Craver said the plant’s closure would be a “multi-decades long process,” cost billions, result in the layoff of hundreds and leave spent nuclear fuel in dry-storage at the plant’s existing sight for years to come.

According to Craver, the company has a $2.7 billion decommissioning fund, after taxes, to handle costs associated with the closure. The fund, he said, should cover 90 percent of expected expenses...'

Saturday
Jun082013

Swan SONGS as Southern CA Edison throws in the towel at San Onofre 2 & 3!

Southern California Edison has decided to permanently shutter its Units 2 and 3 San Onofre Nuclear Generating Stations (SONGS) reactors in Southern Cal! Congratulations to all who fought so hard for this great victory! Read the Edison press release.

"This is very good news for the people of Southern California," said [a] statement from Friends of the Earth (FOE) president Erich Pica. "We have long said that these reactors are too dangerous to operate and now Edison has agreed. The people of California now have the opportunity to move away from the failed promise of dirty and dangerous nuclear power and replace it with the safe and clean energy provided by the sun and wind." 

As pointed out by FOE's Damon Moglen on a press conference call, the lack of reliability, as well as the exorbitant costs (into the hundreds of millions if not billions of dollars) of needed repairs, at San Onofre 2 & 3 is what accounts for the economic uncertainty that led SCE to permanently shutdown the two reactors.

Beyond Nuclear has compiled comprehensive media coverage on, and other reactions to, the San Onofre 2 & 3 closures at its Nuclear Retreat page.

Tuesday
Jun042013

Warren Buffett finally sees the light: MidAmerican Energy cancels proposed new "small modular reactor" targeted at Iowa

As reported by the Des Moines Register, Warren Buffett's MidAmerican Energy has finally pulled the plug on a proposed new "small modular reactor" it was hoping that the ratepayers of Iowa would pay for, through "Construction Work in Progress" (CWIP) surcharges on their electricity bills. A powerful coalition, including AARP, Green State Solutions, Sierra Club, Friends of the Earth, and others can claim credit for this environmental victory against nuclear industry greed, after a protracted three year long battle at the Iowa state legislature.

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