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City of Logan cuts its losses, withdraws from risky NuScam “small” nuclear reactor project

Logan withdraws from risky nuclear power project, Cache Valley Daily  Charlie Schill August 19, 2020  LOGAN – Members of the Logan City Council voted Tuesday to end the city’s partnership in an increasingly expensive nuclear power project.

As a member of the Utah Associated Municipal Power Systems (UAMPS), Logan City owned a partial interest in a first-of-its-kind nuclear plant proposed to be constructed at the Idaho National Laboratory.

Faced with Sept. 15 deadline to ante up more funding for the risky project, both Mark Montgomery, the city’s light and power director, and Logan Finance Director Richard Anderson recommended that Logan withdraw from the Carbon Free Power Project…….

Montgomery told city council members that Logan had invested about $400,000 in the Small Modular Reactor (SMR) project since 2017. If the city had opted to continue its participation in the project into its initial licensing phase through 2023, the price tag would have been another $654,000.

In early August, the Utah Taxpayers Association urged all Utah cities to reconsider their participation in the SMR project due to its potential for out–of-control costs………

In the original CFPP proposal, the U.S. Department of Energy was to foot the bill for the development of the project’s first module. After pledging up to $1.4 billion for those expenses, federal officials have since backed out of that agreement, leaving UAMPS holding the bag for the project’s first-of-its-kind risks.

Montgomery added that estimated cost of the project have also escalated since 2017, jumping from $3.6 billion to $6.1 billion as of July of this year………

August 22, 2020 - Posted by | business and costs, Small Modular Nuclear Reactors, USA

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