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Nuclear fallout of the financial kind

CPS Energy board members dealing with nuclear fallout

KENS 5.com San Antomio by Joe Conger

November 24, 2009

 

It’s supposed to be the cheapest fuel, but oh, what a price.

Some heads may be on the chopping block at CPS Energy, and the future of additional nuclear power for San Antonio is in jeopardy. The city’s power company is in a top-level meeting, getting to the bottom of who knew what, when and why public officials were never told about a huge surge in the costs of a nuclear expansion project.

The discrepancies surfaced just before the city of San Antonio was set to vote on providing their portion of the money for two new nuclear reactors in Texas City. The problem was the price tag suddenly increased to more than $12 billion for the nuclear project—$4 billion more than expected.
Reports indicate some officials within the public utility knew that hightened price months ago, but failed to disclose it at public hearings this summer. Instead, CPS Energy told rate payers nuclear expansion was the most cost-effective option for the city.

CPS Energy board members dealing with nuclear f – Flash Player Installation

November 24, 2009 - Posted by | 1, business and costs, USA | , , ,

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