Saturday, February 22, 2014

WSJ: Nuclear Plants to Get Loan Guarantees


by Alicia Mundy Feb 19, 2014 p. B7:

The Energy Department plans to grant final approval this week of $6.5 billion in loan guarantees for two nuclear reactors under construction in Georgia by a consortium led by Southern Co.... The loan guarantees show that the White House is committed to the 'all of above' energy policy....[end]

Majia here: the overall price tag for the new reactors is estimated at $14 billion.

However, an earlier news article from December 24 in the WSJ reported cost-over-runs due to delays:

December 24, 2012 WSJ: New Nuclear Plant Hits Some Snages Dec 24, 2012 p. A3 print edition by Rebecca Smith

[paraphrasing] The initial projected cost was $14 billion, but over-runs typically mean costs rise. The engineer hired to monitor the project has already warned of "costly" delays of two to four years. The construction consortium includes Shaw Group and Westinghouse Electric.

Problems include "welding issues" and "design revisions."

The plant involves a new type of nuclear reactor.

Already there are $900 million in lawsuits involving the construction partners and utility over these delays.

Clearly, nuclear is NOT cost-effective and is DANGEROUSLY UNSAFE.

Moreover, most importantly, there is NO solution for spent fuel and other forms of nuclear waste. The current problems at Hanford and now in New Mexico (see here) illustrate.

 

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