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New nuclear plants wildly over-priced. Calvert Cliffs plan for new unit is dead

Report: EDF may drop plans for Calvert Cliffs reactor, Baltimore Sun DECEMBER 16, 2011 This is the brilliant-report-of-the-painfully-obvious headline of the day: “EDF Considers Dropping New Nuclear in Maryland,” from Dow Jones. The French EDF’s plans for a third nuclear unit at Calvert Cliffs have been deader than Lehman Brothers for more than a year.

The French company’s partner, Constellation Energy, pulled out of the deal. They couldn’t reach an agreement with Washington on subsidies to build the plant. With the plunge in natural gas prices and the failure of federal climate-change legislation, new nuclear plants, with all their complexity and financial risk, are wildly overpriced. The Fukushima disaster in Japan has made nuclear energy politically incorrect again….


December 16, 2011 - Posted by | business and costs, USA

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