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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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Tuesday
Jul212020

Ohio State House of Representatives Speaker Larry Householder, et al., arrested for $61 million public corruption racketeering conspiracy related to Ohio's 2019 $1.5 billion nuclear & coal bailout House Bill 6

As reported by Ian Cross at News5Cleveland:

Ohio House Speaker Larry Householder and four of his associates have been arrested on charges in relation to “what is likely the largest bribery, money laundering scheme ever perpetrated against the people of the state of Ohio," one that allegedly involved at least $61 million passed through a 501c4 organization controlled by Householder and other entities for the purpose of passing HB6 in 2019, a law that provided a $1.5 billion [rate]payer bailout to FirstEnergy.

U.S. Attorney for the Southern District of Ohio David DeVillers spoke with reporters about the 81-page indictment of Householder and his associates on Tuesday afternoon.

Around 90%, or more, of the Ohio ratepayer-funded bailout went to FirstEnergy's (now Energy Harbor) two age-degraded atomic reactors on northern Ohio's Lake Erie shoreline, Davis-Besse near Toledo, and Perry near Cleveland. Another portion of the bailout went to FirstEnergy-owned dirty old coal burners.

See the U.S. Department of Justice press advisory, here.

See the U.S. Department of Justice press release, here.

See the recording of the press conference with the U.S. Attorney for the Southern District of Ohio, David M. DeVillers, and the FBI Special Agent in Charge, Chris Hoffman, here.

See the 82-page long criminal complaint, and accompanying FBI affidavit, here.

For extensive Ohio-wide and even national media coverage in the first day or two of this revelation, as well as press statements from Beyond Nuclear and other environmental watch-dogs, read on below. For more recent updates, visit our Nuclear Costs website section (arranged in backwards chronological order).

Tuesday
Jul212020

‘F*ck Them Over Later’: Inside The Massive Alleged Bribery Scheme Rocking Ohio

Tuesday
Jul212020

Exelon CEO needs to be held accountable in ComEd scandal

The corruption took place not merely on Crane's watch but under his nose.

As reported at Crain's Chicago Business.

Saturday
Jul182020

Madigan might be wise to step down — but, first, shame on ComEd

The power company admitted to using lobbyists to shower jobs, contracts and payoffs for the purpose of gaining favor with Madigan, who denies any wrongdoing, but, at minimum, is standing in a bad storm.

Editorial by the Chicago Sun-Times.

ComEd's parent company is Exelon, the largest nuclear power utility in the country, with two-dozen reactors in its fleet, including 11 still operating in IL. In 2016, Exelon's lobbying juggernaut rammed a $2.35 billion, decade-long bailout for its old reactors through the IL state legislature, with Madigan's support.

Friday
Jul172020

Feds file criminal case against ComEd, implicate Mike Madigan

A federal subpoena to Madigan’s office shows the feds are interested in the speaker’s relationship with other companies as well. The feds also want wide-ranging records involving Madigan’s top political operatives.

As reported by the Chicago Sun-Times.

ComEd's parent company is Exelon, the largest nuclear power utility in the country, with two-dozen reactors in its fleet, including 11 still operating in IL. In 2016, Exelon's lobbying juggernaut rammed a $2.35 billion, decade-long bailout for its old reactors through the IL state legislature, with Madigan's support.