nuclear-news

Iowa citizens to pay up even if nuclear company walks away!

MidAmerican’s nuclear plant proposal puts risk on consumers, Des Monies Register, 29 Jan 12, Sonia Ashe, Iowa Public Interest Research Group, Des Moines Beyond the lack of public protection against the financial risks and uncertainties associated with the development of new nuclear power, some provisions in Iowa’s nuclear construction work in progress bill, H.F. 561, actually incentivize behavior contrary to the public interest.

The Iowa Utility Board staff recently released a memo that makes clear that H.F. 561, as written, “would shift nearly all of the construction, licensing and permitting risk associated with one or more nuclear plants from the company to its customers.” That certainly
doesn’t provide proper motivation for a utility company like MidAmerican Energy to keep costs low or even follow through with completion of the project.

The memo also warns that H.F. 561 would prevent the Iowa Utility Board from offering traditional protection to consumers in the case of cost overruns, project cancellation or mismanagement.

MidAmerican Energy CEO Bill Fehrman keeps emphasizing that this bill lays all the responsibility and power at the feet of the IUB, but it certainly doesn’t sound like the IUB staff agrees.

If bringing new nuclear power to Iowa means forcing already strapped Iowans to bear all the cost and risk involved, with few protections, I say it’s not worth it. We have other, more cost-effective options that don’t require a blank check in advance….
http://www.desmoinesregister.com/article/20120129/OPINION04/301290080/-1/becker_trial/MidAmerican-s-nuclear-plant-proposal-puts-risk-consumers

January 29, 2012 - Posted by Christina Macpherson | business and costs, USA