nuclear-news

With gas power more likely, why should Florida residents pay upfront for new nuclear power?

Nuclear power Florida: Progress Energy customers are being asked to pay more in upfront costs for nuclear power plants that are becoming much iffier propositions. – OrlandoSentinel.com, 22 Aug 11“…….the new nuclear industry is beginning to look a lot like the old nuclear industry.Progress announced a new price tag in 2008: $17 billion.The next update was $22.5 billion.And the first plant will not be operational until 2021. The Public Counsel’s Office thinks the real year may be 2027, if at all.Those “single-digit dollars” could hit $50 a month by 2020.Customers will be shelling out more money for an iffy proposition…..

There are other issues.

New drilling technology is producing an abundant supply of natural gas, which should stabilize prices. Natural-gas plants can be built much more cheaply and faster, and they release half the carbon as a coal plant. This makes them a lot more competitive with nuclear plants….

Our pre-payments are a form of loan guarantee. And we have little control over the risks Progress takes with them…

August 23, 2011 - Posted by Christina Macpherson | business and costs, USA