nuclear-news

The end of USA’s nuclear resuscitation dream?

Constellation has even stated it could completely shut down operations in Maryland by the end of the year if it hadn’t received a federal guarantee……

The U.S. nuclear renaissance coming to an end already ? POWER GEN, by Brian Wheeler. August, 4 2010 – While the United States nuclear industry is continuing on its path to expand, there seems to be a roadblock for some companies. Cost. The capital cost for nuclear power plants is not cheap and this had led to some companies cutting back spending and even looking at canceling planned new nuclear development.
NRG Energy Inc. said it would cut spending on two new reactors planned at the South Texas Project from $7.5 million a month in July to $1.5 million a month. But NRG isn’t alone. Constellation Energy Group announced in late July it would cut spending on the planned Calvert Cliffs III reactor in Maryland. Both are waiting on a decision from the Department of Energy for a federal loan guarantee. Constellation has even stated it could completely shut down operations in Maryland by the end of the year if it hadn’t received a federal guarantee……

Southern Co.’s loan was awarded almost six months ago. Why the holdup for the next announcement?

The DOE said that before a conditional commitment can be offered each project is thoroughly reviewed by the DOE’s Loan Program Office from a financial, environmental, legal and feasibility standpoint. While the DOE reviews each project, each company waits.

And those companies are waiting on the conditional commitment, not the money……And the DOE said their first priority is to minimize risk to taxpayers.

David’s Blog

August 5, 2010 - Posted by Christina Macpherson | business and costs, USA | antinuclear, nuclear costs, nuclear renaissance, nuclear spin, reactors