nuclear-news

An ugly story – Chrystal River nuclear plant – a national financial headache

Utility companies pass those costs onto their customers, making
Crystal River’s failed do-it-yourself maintenance project a nationwide
responsibility…… And Crystal River isn’t the only concern. Most of
the 104 reactors in the United States were built in the 1970s and
early 1980s. They are starting to show their age, a fact that is
adding additional pressure to NEIL’s bottom line.

The insurance company is processing claims from American Electric
Power’s nuclear station in Bridgman, Mich., the South Texas Nuclear
Project and California’s San Onofre nuclear power station.

Adding in Crystal River, NEIL and its member utilities — and by
extension their customers — are potentially looking at a huge
financial hit.    ” This,” said Cooper, the economist, “is an ugly story.”

Progress Energy Shares the Costly Pain of a Fix at Nuclear Power
Plant, News Chief.com By IVAN PENN TAMPA BAY TIMES, January 2, 2013
The crippled Crystal River nuclear plant, owned by Progress Energy, is
now America’s headache. The bill to fix it and pay for replacement
power may top $5 billion. The problem?

The company that insures all 104 U.S. nuclear power plants has just
$3.6 billion on hand to pay for claims.

Broken nuclear plants in California, Texas and Michigan will vie for
some of that money. But Crystal River alone represents such a
financial threat that the insurance company, Nuclear Electric
Insurance Ltd., may demand that its member utilities pony up more
money. And it could be a lot more — and quickly. Continue reading →

January 3, 2013 Posted by Christina Macpherson | business and costs, USA | Leave a comment