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Westinghouse CEO admits that the 2000s “nuclear renaissance” was never going to happen

Westinghouse CEO opens up about collapse of 2000s ‘nuclear renaissance’,  (Mainichi Japan)  WASHINGTON — The CEO of the U.S. nuclear power firm Westinghouse Electric Co. — which used to be under the Toshiba Corp. umbrella and which filed for bankruptcy in March 2017 — has told the Mainichi Shimbun that the “nuclear renaissance” in the 2000s “was not realistic.”……..

Westinghouse Electric was acquired by Toshiba in 2006. At the time, nuclear power was gaining attention as a countermeasure to tackle global warming, with a spate of power plant construction projects emerging across the world, particularly in the U.S.

However, after a drop in demand for electricity caused by the global financial crisis triggered by the collapse of Lehman Brothers, as well as the Fukushima No. 1 nuclear power plant disaster in 2011, demand for new nuclear power plants has plunged worldwide.

Looking back at this time, Gutierrez acknowledges that the nuclear renaissance, whereby firms would build plants, never actually happened, and says that Westinghouse Electric senior management’s bold plans to build dozens of new plants across the world was not realistic…….

April 25, 2018 - Posted by | business and costs, USA

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  1. […] in March 2017, said that the “nuclear renaissance” in the 2000s “was not realistic.” link  (See Vogtle […]

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