nuclear-news

Iowa residents will pay up in advance for nuclear reactor build

“Advanced cost recovery is nothing more or less than a tax on ratepayers to fund nuclear reactors that the capital market won’t touch,”

Possible nuclear expansion costs to Iowans: $50 a month, Des Moines Register, 25 March 11, Iowa’s average MidAmerican customer could see their monthly bills spike by $50 or more a month under a proposal being considered by the state’s legislature, according to a report released today.The report is from Mark Cooper of the Institute for Energy and the Environment at Vermont Law School says House File 561 would shift the upfront costs and financial risks of building a nuclear plant to customers in what the report described as an unfair tax.

House File 561 has already passed through a committee process and is eligible for debate by the full house.  The bill outlines how the Iowa Utilities Board should proceed with rate-making principles should a rate-regulated public utility move forward with plans to build a nuclear plant.

“Advanced cost recovery is nothing more or less than a tax on ratepayers to fund nuclear reactors that the capital market won’t touch,” said Cooper, who conducted the analysis on behalf of Iowa Physicians for Social Responsibility…..

Possible nuclear expansion costs to Iowans: $50 a month | Des Moines Register Staff Blogs

March 26, 2011 - Posted by Christina Macpherson | business and costs, USA