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Confronting nuclear proponents on the real costs of “new nuclear” – US Senate hearing

Hearing on new reactors turns into colloquy on subsidies Hannah Northey, E&E reporter E&E Daily: Wednesday, May 18, 2016 A Senate hearing focused on the challenges of building the nation’s next-generation nuclear fleet yesterday quickly pivoted to concerns about cost and competition from cheap natural gas, with senators needling each other over energy subsidies…….

senators on the panel repeatedly turned back to the question of cost and whether the developers could make their projects compete financially.

Sen. Martin Heinrich (D-N.M.) said he was having a hard time reconciling the closure of nuclear power plants, including units in Illinois that had lost hundreds of millions of dollars in past years, with the industry’s push for new reactor designs. Heinrich asked witnesses what cost per kilowatt-hour they were targeting to ensure the advanced technologies would be competitive in the marketplace…….

Independent Sen. Angus King of Maine also questioned the industry’s math, noting that it could cost $7 million per megawatt to build an advanced reactor, whereas the costs for wind and natural gas are substantially lower……

The senator went on to ask Kuczynski whether a “level playing field” also meant scrapping federal support for the nuclear industry in the form of the Price-Anderson Act — a 1957 law that created a $12 billion pot of money to cover injuries and property damage during accidents.

When Kuczynski said the industry doesn’t view the law as a subsidy, King was quick to respond.

“It walks like a duck, it talks like duck, it’s a duck. It’s a subsidy,” King said. “If you had to buy that insurance, it would cost you a fortune, is that not correct?” http://www.eenews.net/stories/1060037434

May 20, 2016 - Posted by Christina Macpherson | politics, USA