Financial facts are killing nuclear power

Rising Costs Slow The Growth Of Nuclear Power, Oil Price Oct 08, 2017,The troubled history of Britain’s replacement nuclear power station Hinckley Point C (HPC) will have received scant, if any, coverage in the U.S.

But the story is an illustration of the blind alley in which nuclear power finds itself. The debate is one that is being (or will be) enacted in many other countries that rely on nuclear power as part of their energy mix.

Eight years behind schedule, HPC should have come on stream by the end of this year, but is not now likely before 2025 at the earliest (and probably later even than that distant date).

In the meantime, repeated delays have added to the costs.

A Rising Price Tag

Now estimated at £19.6 billion ($26 billion), it would be one of the most expensive structures ever built in the U.K. Last year, the British government pushed the financial risk onto French power generator and owner-to-be of the plant EDF Energy as part of a dealthat has already settled on an eyewatering £92.50/MWhr fee for power produced, index linked for 35 years, the Financial Times reported.

Since that part of the agreement was made in 2013, inflation has pushed that figure to over £100/MWhr, the Financial Times reported, compared to offshore wind at £60/MWhr and unsubsidized new natural gas generation at even less.

Never mind the rights and wrongs on how an inept series of U.K. government politicians and civil servants got lobbied into agreeing to such a position. The fact remains no one, probably not even EDF themselves — and certainly not their shareholders — really wants the project to go ahead….

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EVENTS

Did You Know about these important public meetings?

1. Thursday, August 22, 2019 from 4 to 5 pm – Joni Arends will be interviewed by Xubi Wilson on KSFR-FM 101.1 “Living on the Edge” show. She will discuss New Mexico, the nuclear weapons industry, and the sacrifices that are continuing to be extolled from the People by that industry everyday and in every way.

2. Thursday, August 22, 2019 from 5:30 to 7 pm – LANL’s Environmental Management Los Alamos Field Office (EM-LA) public meeting about The Environmental Management Cleanup Forum: Legacy Waste at Los Alamos National Laboratory, at the Santa Fe Community College, 6401 Richards Avenue, Santa Fe.
EM Cleanup Forum Save the Dates_08022019

3. Friday, August 23, 2019 from 9 am to 4:30 pm – New Mexico Interim Radioactive and Hazardous Committee meeting at the University of New Mexico-Los Alamos, Wallace Hall, 4000 University Drive, Los Alamos. Presenters include: James C. Kenney, Secretary of the NM Environment Department (NMED); Kelly Beierschmitt, Deputy Director of Operations, LANL; and Santa Fe County Commissioner Anna Hansen about DOE Order 140.1 with Jonathan Plaue, with the Defense Nuclear Facilities Safety Board. Topics include: the 2016 NMED Order on Consent for LANL, and the chromium and co-located perchlorate plume. https://www.nmlegis.gov/Committee/Interim_Committee?CommitteeCode=RHMC

4. Monday, August 26, 2019 from 3 to 5 pm – WIPP draft Five-Year Strategic Plan at the Hotel Santa Fe, 1601 Paseo de Peralta, Santa Fe, NM. Unfortunately, at posting time, the draft plan is not available for review prior to the meeting.

5. Wednesday, August 28, 2019 from 10:30 – 12:30 – WIPP draft Five-Year Strategic Plan at the Skeen-Whitlock Building, 4021 National Park Highway, Carlsbad, NM.

6. Thursday, August 29th from 11 to 1 pm – Cold War Patriots are hosting a meeting for DOE/NNSA/LANL/Sandia/WIPP workers and former workers about how to navigate the complex EEOICPA and RECA government programs at St. John’s Methodist Church in Santa Fe. https://coldwarpatriots.org/

PETITION

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