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Nuclear power a financially risky option for developing countries

Nuclear power in developing countries: radioactive waste, proliferation and debt « Charles Santiago 6 May 2010, For developing countries, nuclear power is a high cost option -environmentally, socially and economically…….
A history of failure in developing countries

The following case studies provide graphic examples of how nuclear power is an uneconomic and financially risky option for developing countries.

India: In India, the cost of the two Kaiga reactors has increased dramatically, largely because of an accident at the first unit in 1994 that has so far delayed construction by over two years. The original cost estimate for the two units was about 7.31 billion rupees (~US$ 169.93 million), but the project is now expected to cost around Rs 28.96 billion – an increase of nearly 400%.

Thailand: In 1993 a World Bank study on Thailand estimated that nuclear was not competitive compared to gas, lignite, coal or fuel-oil fired generation, even after the investment and operating costs of pollution mitigating technology such as flue-gas desulphurization units on lignite and coal-fired power plants were considered. As a result of this report, nuclear power was taken out of the Thai Government’s 1994 energy plan.

The Philippines: The cancelled Bataan nuclear plant in the Philippines is a symbol of the folly of nuclear power. Delayed and finally killed by scandals and public opposition, it is responsible for 20% of the Philippines foreign debt. Yet it has never generated a single watt of electricity, nor brought in one dollar of revenue. Journal Article by Greenpeace- Nuclear power in developing countries: radioactive waste, proliferation and debt « Charles Santiago

May 7, 2010 - Posted by Christina Macpherson | ASIA, business and costs | antinuclear, nuclear, nuclear costs, nuclear spin, nuclear wastes, radiation, reactors