nuclear-news

Missouri House votes to ease restrictions on nuclear power plant construction costs

The Consumers Council of Missouri is among those who oppose the plan, saying if the plant is never completed, electric customers still bear the costs.

Kurt Erickson ST Louis Post Dispatch, 27 Mar 23,

JEFFERSON CITY — Utility companies like Ameren Missouri could begin billing customers for the upfront costs of building nuclear power facilities under a plan advancing in the General Assembly.

In debate Monday, the Missouri House gave preliminary approval to legislation allowing utility companies to add the cost of a new nuclear plant or renewable energy generator to customers’ rates while they’re under construction.

That’s a practice that was banned by Missouri voters in 1976 in response to the utility company’s attempt to collect costs while it was building the state’s first and only nuclear power plant in Callaway County.

Then, and now, consumer advocates object to the concept of forcing utility users to pay for something that is not yet in service, especially when Ameren recently obtained a rate increase and, in February, announced a 7% increase in its quarterly cash dividend, signaling healthy economic times.………………………..

The Consumers Council of Missouri is among those who oppose the plan, saying if the plant is never completed, electric customers still bear the costs.

In South Carolina, the concept enabled a utility to charge ratepayers for the construction of two nuclear reactors that were never completed. During that period, South Carolina ratepayers were charged billions of dollars until the project faltered and ultimately collapsed, the watchdog organization said.

Large industrial users of electricity, including Ford Motor Co. and other manufacturers, also oppose the plan……………………………

 Rep. Doug Clemens, D-St. Ann, warned that the measure could hurt consumers.

“This particular scheme is essentially giving a blank check to our utility companies,” Clemens said. “We’ll never see productivity out of this scheme.”………………………

The proposal needs a final vote in the House before moving to the Senate for further deliberations.

The legislation is House Bill 225. more https://www.stltoday.com/news/local/govt-and-politics/missouri-house-votes-to-ease-restrictions-on-nuclear-power-plant-construction-costs/article_d8ad48b5-988a-5809-a61d-c6daed2f7b76.html

March 28, 2023 - Posted by Christina Macpherson | business and costs, politics, USA