nuclear-news

Nuclear renaissance not viable, say experts, even from Exelon!

Power complexes that combine increasingly plentiful and cheap natural gas with renewable sources like wind and solar power are now seen as a financially viable, safer and cleaner alternative.

Why The Days Of Rampant Nuclear Power Growth Are Over, Business Insider, Merrill Goozner, The Fiscal Times | May 9, 2011 “……..Experts say the heavy subsidies needed to build new nuclear plants and the increased costs from tougher safety standards are a nonstarter given the nation’s fiscal crisis.  As a result, nuclear is a less competitive option for producing electricity than a mix of cheap natural gas, wind and even solar power, which is rapidly declining in cost. Although prospects for a revival seemed bright only a few years ago, the steep price tag, coupled with the festering problem of disposing of spent nuclear fuel, creates a hostile environment for investing in nuclear power.

All of these forces came into play last week at the first congressional oversight hearing for the Nuclear Regulatory Commission in more than a decade. In an unusual display of bipartisan rancor, House members from both political parties berated NRC chair Gregory Jaczko for two-and-a-half hours, accusing him of a multiplicity of sins that cut across political, ideological and geographical lines.

Representatives from states with operating plants near major cities and seismic faults wanted them shut down. …..

Even the $54.5 billion in government loan guarantees that have been allocated or requested since 2005 have not turned the tide. Some top-ranking utility executives – like Jonathan Rowe, the chief executive officer of Exelon, the nation’s largest nuclear operator – are now calling into question the financial viability of new nuclear power plants, which only a few years ago were seen as crucial to any long-term plan for curbing carbon emissions and global warming.

Power complexes that combine increasingly plentiful and cheap natural gas with renewable sources like wind and solar power are now seen as a financially viable, safer and cleaner alternative. ….: http://www.thefiscaltimes.com/Articles/2011/05/09/The-Death-Knell-Rings-for-Nuclear-Power-Growth.aspx#ixzz1MC7Xb3iC

May 12, 2011 - Posted by Christina Macpherson | business and costs, USA