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What the nuclear industry and its supporters have to say about the economic viability of nuclear power:

 https://www.facebook.com/groups/1021186047913052 Jim Green, 20 Mar 22, What the nuclear industry and its supporters have to say about the economic viability of nuclear power: Nuclear Fuel Cycle Watch Australia

* “I don’t think we’re building any more nuclear plants in the United States. I don’t think it’s ever going to happen. They are too expensive to construct.” ‒ William Von Hoene, Senior Vice-President of Exelon, 2018.

* Nuclear power “just isn’t economic, and it’s not economic within a foreseeable time frame.” ‒ John Rowe, recently-retired CEO of Exelon, 2012.

* “It’s just hard to justify nuclear, really hard.” ‒ Jeffrey Immelt, General Electric’s CEO, 2012.

* “We see renewables plus battery storage without incentives being cheaper than natural gas, and cheaper than existing coal and existing nuclear.” ‒ Jim Robo, NextEra CEO, 2019.

* France’s nuclear industry is in its “worst situation ever”, a former EDF director said in November 2016 ‒ and the situation has worsened since then.

* Nuclear power is “ridiculously expensive” and “uncompetitive” with solar. ‒ Nobuo Tanaka, former executive director of the International Energy Agency, and former executive board member of the Japan Atomic Industrial Forum, 2018.

* “In developed markets, we see little economic rationale for new nuclear build. Renewables are significantly cheaper and offer quicker payback on scalable investments at a time when power demand is stagnating. New nuclear construction requires massive upfront investments in complex projects with long lead times and risk of major cost overruns.” ‒ S&P Global Ratings, 2019.

* Compounding problems facing nuclear developers “add up to something of a crisis for the UK’s nuclear new-build programme.” ‒ Tim Yeo, former Conservative parliamentarian and now a nuclear industry lobbyist, 2017.

* “It sometimes seems like U.S. and European nuclear companies are in competition to see which can heap greater embarrassment on their industry.” ‒ Financial Times, 2017, ‘Red faces become the norm at nuclear power groups’.

* “I don’t think a CEO of a utility could in good conscience propose a nuclear-power reactor to his or her board of directors.” ‒ Alan Schriesheim, director emeritus of Argonne National Laboratory, 2014.

* “New-build nuclear in the West is dead” due to “enormous costs, political and popular opposition, and regulatory uncertainty” ‒ Morningstar market analysts Mark Barnett and Travis Miller, 2013.

* “Nuclear construction on-time and on-budget? It’s essentially never happened.” ‒ Andrew J. Wittmann, financial analyst with Robert W. Baird & Co., 2017.

* “Nuclear power and solar photovoltaics both had their first recorded prices in 1956. Since then, the cost of nuclear power has gone up by a factor of three, and the cost of PV has dropped by a factor of 2,500.” ‒ J. Doyne Farmer, Oxford University economics professor, 2016.

References at:

NUCLEAR.FOE.ORG.AU

Nuclear Power’s Economic Crisis and its Implications for Australia – Nuclear-Free Campaign

March 21, 2022 - Posted by | 2 WORLD, business and costs

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