Tuesday
Nov242020
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 November 1, 2020 - November 30, 2020
November 24, 2020Monday
Nov232020
The Other Race on Georgia’s January Ballot
The runoff for Georgia’s Public Service Commission is a referendum on the powerful energy company Georgia Power.
As reported by Rachel M. Cohen in The Intercept.
The article touches on the federal taxpayer-backed nuclear loan guarantees wrapped up in the years behind schedule, billions of dollars over budget Vogtle 3 & 4 reactor new build project in GA.
In 2014, Obama administration Energy Secretary Ernest Moniz -- reportedly still in the running to becomes Biden's Energy Secretary -- awarded Southern Nuclear et al. $8.3 billion in nuclear loan guarantees for Vogtle 3 & 4. In return, he was awarded a seat on Southern's board of directors.
Trump administration Energy Secretary Rick Perry, out of the blue, awarded Southern another $3.7 billion in nuclear loan guarantees. Former Perry presidential campaign manager, Jeff Lewis, helped make this happen, as a hired gun lobbyist for Southern.
If Southern and its partners default on their loan repayments, American taxpayers could well be left holding the bag for $12 billion in nuclear loan guarantees. That is 22 times the amount of taxpayer money lost in the Solyndra solar loan guarantee default, a decade ago ($535 million).
Friday
Nov202020
Sam Randazzo resigns as Public Utilities Commission of Ohio chair
As reported by Jeremy Pelzer at Cleveland.com, and reprinted at Midwest Energy News.
On Nov. 16, FBI agents raided Randazzo's home, as reported by Fox19 Now t.v. in OH.
Although not yet confirmed, it appears highly likely that the FBI raid on the Public Utility Commission of Ohio chairman Sam Randazzo is connected to the nuclear power bribery/bailout scandal. The scandal involves FirstEnergy Nuclear, which allegedly bribed OH's speaker of the state house, Larry Householder, to the tune of $61 million. The alleged bribe was made in order to secure, and defend, a $1.3 billion bailout, at Ohio ratepayer expense, to prop up two dangerously age-degraded, economically failed atomic reactors on the Lake Erie shore, as well as well dirty old coal burners, including one in Indiana.
Before succeeding at the OH state legislature, FirstEnergy had tried, time and time again for several long years, to secure its nuclear bailout at the PUCO. But it was blocked time and again by opponents, including Beyond Nuclear, on behalf of our members and supporters in OH.
Thursday
Nov192020
Indictment raises questions on what ComEd CEO Dominguez knew and did
As reported by Steve Daniels at Crain's Chicago Business.
Commonwealth Edison (ComEd) is a subsidiary of Exelon, the largest nuclear power utility in the U.S. In 2016, Dominguez had a big hand in the bailout -- to the tune of $2.35 billion, at ratepayer expense -- of three dangerously age-degraded Exelon atomic reactors in IL, that the company said it would otherwise have to close for good.
