nuclear-news

China, Germany, now USA, put the brakes on nuclear development

corporations are bracing for a potential U.S. regulatory backlash that will elevate costs. Governments from China to Germany moved swiftly last week to brake further nuclear development,

UPDATE 3-NRG, eyeing Japan, first to slow US nuclear plant work | Reuters, 22 March 11, NRG pull-back is first sign of U.S. impact from quake * US nuclear builders face uncertainty amid NRC review, By Eileen O’Grady, HOUSTON, March 21 (Reuters) – U.S. nuclear power developer. NRG Energy Inc has all but stopped work on a majo project in Texas, the first U.S. company to slow down ambitious growth plans in the wake of the crisis in Japan.

NRG, which has worked closely with Tokyo Electric Power Co to develop the Texas reactors, said there was too much regulatory uncertainty to continue pouring cash into the project.NRG’s move is the first sign that

as regulators sought time to apply any lessons learned from the crisis on Japan’s east coast.

The U.S. Nuclear Regulatory Commission’s order for a review of all plants raises uncertainty about potential design changes and timing of new license approvals, NRG Chief Executive David Crane said. He also noted that low natural gas prices are challenging the economics of new nuclear power plants.

“The economics related to the capital budget are right on the edge of viability,” Crane told Reuters in an interview.

NRG and its partner Toshiba Corp (6502.T) will reduce the scope of development work at Nuclear Innovation North America, which has been working to build new units at the South Texas Project nuclear station in Matagorda County, 90 miles (145 km)southwest of Houston.

UPDATE 3-NRG, eyeing Japan, first to slow US nuclear plant work | Reuters

March 22, 2011 - Posted by Christina Macpherson | business and costs, USA