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The ever increasing costs of new nuclear energy – Australia, USA, S Africa, China

flag-AustraliaYou’ll never guess how much this Australian nuclear power plant will cost, http://www.bizjournals.com/pittsburgh/blog/energy/2015/11/youll-never-guess-how-much-this-australian-nuclear.html    Matt Stroud, energy reporter for the Pittsburgh Business Times. Nov 6, 2015 A nuclear power plant has never been built in Australia before, but Westinghouse is putting a price tag on a new one they’re hoping to build there.

The price? About $12.3 billion.

scrutiny-Royal-Commission CHAINIn testimony to Australia’s Nuclear Royal Commission — a body that’s investigating whether the
Australian state of South Australia should build the nation’s first nuclear power plant — Westinghouse executive Rita Bowser said that price was all inclusive, according to The Advertiser in Adelaide, South Australia. It would include land, environmental safeguards and construction.
“While it’s not exactly our estimate, we think it’s a very good basis for your assessment or comparison,” Bowser testified.

Australia has zero nuclear power plants — and is known for being extremely averse to nuclear energy; it won’t even allow nuclear ships into its ports.

The historical aversion won’t affect the price much, apparently; the company’s guesstimate is in line with its current Vogtle project in Georgia, which has been plagued by cost overruns. It’s less than a comparable Chinese project, set to cost $24 billion. And it’s cheap in comparison to a project proposed in Johannesburg that could cost $100 billion.

The South Australia project’s future is fluid at the moment: the Nuclear Royal Commission hasn’t even decided whether it wants to recommend a nuclear facility.

That decision is set to come in May 2016. Tokyo-based Toshiba Corp. (TYO: 6502) owns 87 percent of the Cranberry-based Westinghouse Electric Co.

November 7, 2015 - Posted by | AUSTRALIA, business and costs

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