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Nuclear decommissioning – costs blow out endlessly!

Saving funds for shutdown of nuclear plants proves tricky
MISSOURIAN  July 24, 2009
BY DAVE GRAM and FRANK BASS/The Associated PressVERNON, Vt. — The companies that own almost half the nation’s nuclear reactors are not setting aside enough money to dismantle them, and many may sit idle for decades and pose safety and security risks as a result, an Associated Press investigation has found……………………….

At 19 nuclear plants, owners have won approval to idle reactors for as long as 60 years, presumably enough time to allow investments to recover and eventually pay for dismantling the plants and removing radioactive material.

But mothballing nuclear reactors or shutting them down inadequately presents the most severe of risks. Radioactive waste could leak from abandoned plants into ground water or be released into the air, and spent nuclear fuel rods could be stolen by terrorists.

During the past two years, estimates of dismantling costs have soared by more than $4.6 billion because rising energy and labor costs, while the investment funds that are supposed to pay for shutting plants down have lost $4.4 billion in the battered stock market………………………………

“No one at the NRC wants to acknowledge what is absolutely obvious to us, that the funds are inadequate and that the industry has bare assets,” said Arnold Gundersen, a retired nuclear engineer and decommissioning expert.

Those critics say the industry is making assumptions about their investments that do not account for another market collapse, political obstacles to getting the licenses renewed and unforeseen safety problems that could make nuclear power less palatable.

Last week, British officials reported on a 2007 leak in a cooling tank at the decommissioned Sizewell-A nuclear plant.

Saving funds for shutdown of nuclear plants proves tricky – Columbia Missourian

July 25, 2009 - Posted by Christina Macpherson | 1, 2 WORLD, business and costs | antinuclear, AREVA, nuclear, nuclear costs, nuclear wastes, radioactive