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South Carolina nuclear power backers push for tax-payer aid

After failure of SC nuke plant, backers seek federal aid,  By MATTHEW DALY, 14 Aug 17, WASHINGTON (AP) — Proponents of nuclear power are pushing to revive a failed project to build two reactors in South Carolina, arguing that the demise of the $14 billion venture could signal doom for an industry that supplies one-fifth of the nation’s electricity…..Supporters were alarmed when two South Carolina utilities halted construction on a pair of reactors that once were projected to usher in a new generation of nuclear power……

The July 31 suspension of the partly completed V.C. Summer project near Columbia, South Carolina, leaves two nuclear reactors under construction in Georgia as the only ones being built in the U.S. The collapse of the nearly decade-old project in South Carolina could cost ratepayers billions of dollars for work that ultimately provides no electricity and could signal that new nuclear plants are impossible to complete in the United States.

“These reactors failing would be the end of a nuclear renaissance before it even started,” said Sen. Lindsey Graham, R-S.C.

Graham and other lawmakers from both parties are urging Congress to extend a production tax credit that would provide billions of dollars to the South Carolina project and the two Georgia reactors. The House approved an extension in June, and Graham is pushing for a Senate vote after Congress returns from its August recess….

The Vogtle plant in Georgia faces similar economic and competitive threats, including the Westinghouse bankruptcy. The plant’s operator, Atlanta-based Southern Co., has said it will decide in coming weeks whether to finish the two reactors, which are years behind schedule and billions of dollars above projected costs……

Besides the production tax credit, nuclear supporters want the extension of an Energy Department loan guarantee program that has helped Vogtle and other energy projects secure funding. Vogtle received an $8.3 billion loan guarantee under the Obama administration – the largest ever issued by the loan program and a deal that some critics say could end up biting taxpayers…..https://www.apnews.com/1746c2dee6464b1586dbbedda6714bc4

 

August 16, 2017 Posted by | business and costs, politics, USA | 1 Comment

Vogtle’s two new nuclear reactors: will they be economically viable?

The challenge to building new nuclear reactors in the U.S. has to do with new technology, the exacting construction and the relative affordability of other energy sources, experts said. While there could be long-term advantages to new nuclear energy, including its relative efficiency and lack of greenhouse gas emissions, the short-term costs are considerable and could sink the projects before they are completed, experts said.

The recently suspended nuclear expansion at the V.C. Summer Nuclear Station in South Carolina over its burgeoning costs has raised questions about the future of Vogtle’s two new nuclear reactors and other projects……

Capital costs could increase from $5.7 billion to $7.4 billion and financing costs from $2.3 billion to $3.5 billion. Because Georgia Power has the only publicly reported numbers attached to the project, some have used those figures to calculate the total cost at $25 billion, but it cautioned against that figure because the costs for the other companies involved in the project are different.

If the costs came in at the highest estimate and were the same across the board for all partners, the project would actually exceed $27 billion…….

One way of assessing whether adding a new nuclear plant makes economic sense is by looking at measures that seek to compare energy technologies based on what it costs to build and operate them, called levelized cost of electricty, and comparing it with the value of the electricity it would add to the overall system based on the cost of producing it. According to a report earlier this year from the U.S. Energy Information Administration, a nuclear reactor that came online in 2022 would actually cost nearly $40 more in kilowatt hour of electricity produced than generating that same electricity by other means……… http://chronicle.augusta.com/news/2017-08-12/questions-remain-about-viability-building-new-nuclear-reactors#.WZDB9dbWk2A.twitter

August 16, 2017 Posted by | business and costs, USA | Leave a comment

Should Florida residents still be paying for defunct, and planned new, nuclear recators?

Florida PSC looks at paying for nuclear projects today, Tampa Bay Times, By Malena Carollo, Times Staff Writer, August 15, 2017 TALLAHASSEE — The Florida Public Service Commission is holding its annual hearing at 1:30 p.m. today to discuss whether — and how much — Floridians will pay for its utilities’ nuclear power projects.

August 16, 2017 Posted by | business and costs, politics, USA | Leave a comment

Thorium nuclear technology a risky and unwise venture for Utah

“…. the coalition’s involvement has raised concerns about the use of limited county resources in such a speculative venture. Nor is it clear how the thorium proposal squares with the coalition’s legal mission, which is to “build essential regional infrastructure elements,” such as pipelines, roads, transmission and rail needed to deliver extracted minerals and power to markets……

The coalition’s financing and procurement practices have recently come under intense scrutiny by Utah Treasurer David Damschen, who believes the group could be flouting accountability standards.

As a new member of the state Community Impact Board (CIB), which gives out federal mineral royalties to rural counties, Damschen has raised numerous concerns about the coalition’s management of CIB grants— its sole source of revenue. At recent meetings, the state treasurer has openly wondered whether the coalition steers contracts to insiders instead of the best qualified people and spends public money in ways that provide minimal public benefit…….

Thorium technology has years of costly research and development ahead before it’s ready to produce power and isotopes, according to Mike Simpson, a University of Utah metallurgical engineering professor.

“It‘s not accurate to say it’s proven to work. Aspects of it have been proven, but everything that has to be tied together hasn’t happened,” said Simpson, adding he would provide advice to the coalition for free. ”They still need another 10 years to perfect this….

 many technical hurdles remain and these rural counties are not positioned to help address these challenges other than siting assistance for a reactor, Simpson added. Salt Lake Tribune

August 16, 2017 Posted by | business and costs, thorium, USA | Leave a comment

Cancellation of nuclear build programmes in South Korea and USA – a bad sign for Britain’s nuclear industry

US AND KOREAN NUCLEAR PLANT CANCELLATIONS: IMPLICATIONS FOR UK NEW NUCLEAR BUILD,  Prospec t Law August 10, 2017  The US currently has 100 nuclear power plants in operation supplying about 20% of its power needs. A further four were under construction, two each in Georgia and South Carolina, until the owners of the South Carolina plants recently announced the cancellation of construction of its two Westinghouse AP1000 units, Summer 2 and 3.

Summer 2 and 3 had been under construction since 2013, with original operational dates of late 2019 and late 2020.  However, due to construction delays and cost overruns, these were later revised to December 2022 for Summer 2 and March 2024 for Summer 3.  The finances were a key factor in the decision to cancel construction, with the original estimate of $11.5 bn having more than doubling to $25 bn. The reasons behind this are no doubt complex, but as the US has not constructed a new reactor since the 1970s, the loss of nuclear expertise must be a factor.

Summer 2 and 3 were intended to showcase advanced nuclear technology and pave the way, along with the Georgia plants – also Westinghouse AP1000s, for a nuclear renaissance in the US.  A further four AP1000s and 12 SMRs (Small Modular Reactors) are currently proposed and several more are in the early stages of planning. The fate of these and the two Georgia plants remains to be seen…….

The Westinghouse bankruptcy has also complicated the picture in the US, with its AP1000 design being used for the South Carolina and Georgia projects and its role being reduced to a vendor supporting the EPC. Their situation has also had an effect in the UK, with Toshiba’s stake in Nu-Gen now being considered by KEPCO. Rather than utilise the Westinghouse design, which was approved by the UK nuclear regulator, ONR, in March this year, KEPCO wants to use its own technology, which will cause a delay in construction of the Moorside plant while the necessary regulatory design assessment is undertaken.

The South Korean nuclear industry is also in difficulty, with the new anti-nuclear government suspending construction of the Shin Kori 5 and 6 nuclear plants for several months while it undertakes a public consultation on their future. This decision has generated much debate in the country and is seen as a threat to its nuclear exports, and KEPCO’s future Nu-Gen.

Decisions to be taken in the next few months will be crucial for the future of nuclear in the US and Korea. …….http://prospectlaw.co.uk/us-and-korean-nuclear-plant-cancellations-implications-for-uk-new-nuclear-build/

August 16, 2017 Posted by | business and costs, South Korea, UK, USA | Leave a comment

Nuclear war danger – GREAT FOR INVESTORS IN WEAPONS!!!

Arms Stocks Soar While Trump, Kim Trade Threats https://sputniknews.com/business/201708121056414815-Trump-Kim-spat-pleases-business/  13.08.2017  US President Trump’s tit-for-tat war of nuclear words with North Korean leader Kim Jong-un is good for Wall Street.

Following Pyongyang‘s August 8 pronouncement that it had successfully miniaturized a nuclear warhead for its burgeoning ICBM fleet, US President Donald Trump made several inflammatory statements involving the phrase “fire and fury” and, one day later, the stocks of arms builders and weapons manufacturers skyrocketed.

While the stock market has been noted to be on an upswing in recent weeks, last week’s midweek figures were notably down — except for those of weapons manufacturers.

Defense technology companies Textron, General Dynamics, L3 Technologies and Huntington Ingalls all notched gains, while weapons giants Raytheon, Northrop Grumman, and Lockheed Martin saw the highest stock valuation of their history, according to Defense One.

Financial analysts gushing about potential profit quickly alerted investors to developing or planned missile defense interceptor networks and the lucrative firms that design and manufacture those weapons.

Weapons builders and military equipment suppliers are an attractive investment, if you can stomach that your money comes from selling devices that are made specifically to kill people, according to Defense One.

A recent Morgan Stanley analysis of weapons builders has suggested that stocks will rise.

“[W]e expect this intense budget debate over the next few weeks and months to yield positive results,” asserted an L3 Technologies spokesperson only last month.

The business and financial community note that US military spending is on track to top last year, and that increases are likely in the coming months.

“I believe that there is real interest and desire in additional [military] spending which will manifest itself in some more additional funding and budget for defense,” said General Dynamics CEO Phebe Novakovic.

“It’s just a question of how much,” she said.

August 14, 2017 Posted by | business and costs, weapons and war | Leave a comment

South Carolina’s state-owned utility drops plans for rate hikes for failed nuclear project

Utility drops rate hike plans for failed nuclear project, By SEANNA ADCOX New Jersey Herald : Aug. 11, 2017 COLUMBIA, S.C. (AP) — Millions of customers who have been footing the bill for years for a now-abandoned nuclear power project may get a temporary reprieve from rising bills, as South Carolina’s state-owned utility dropped plans Friday for two consecutive rate hikes.

Santee Cooper’s board canceled the approval process for average increases of 3.5 percent in 2018 and 3.9 percent in 2019. A vote on the requested hikes had been set for December.

They would have been the utility’s sixth and seventh hikes since 2009 for the now-abandoned expansion of V.C. Summer Nuclear Station north of Columbia. Santee Cooper and South Carolina Electric & Gas decided July 31 to halt construction on two new reactors they’d already jointly spent $10 billion to build, much of that paid by customers.

“Conditions have changed materially since the rate process began,” said Santee Cooper board Chairman Leighton Lord.

But the cancellation doesn’t necessarily mean rates won’t eventually rise for the more than 2 million customers served by Santee Cooper, which provides power directly and through local electric cooperatives. The board directed the utility’s staff to come back in October with a new financial plan.

“Santee Cooper will still need to cover costs related to our load, other system improvements and environmental compliance,” said Santee Cooper CEO Lonnie Carter. “We will tighten our belts and continue to look for ways we can be more efficient to make up the balance.”

Carter said the state-owned utility would have had to raise rates by 41 percent to continue with the project.

Friday’s unanimous vote comes amid a backlash from the public and lawmakers.

The scuttled nuclear project already accounts for 18 percent of SCE&G’s residential electricity bills and more than 8 percent of Santee Cooper’s. SCE&G is seeking permission from the Public Service Commission to recoup an additional $5 billion over 60 years. Those regulators approved all nine of SCE&G’s rate hike requests since 2009. Legislators have publicly warned commissioners they may be fired.

Three of those commissioners are up for re-election early next year by the Legislature. Seven people, including the incumbents, filed for the three slots by Friday’s noon deadline. The commission has no authority over the state-owned utility…….http://www.njherald.com/article/20170811/AP/308119851#

August 14, 2017 Posted by | business and costs, politics, USA | Leave a comment

USA Federal Government not stepping in to save South Carolina nuclear power project

Trump administration silent on demise of nuclear project it once called ‘massively important’, Post and Courier By Thad Moore and EmmaDumain tmoore@postandcourier.com eduman@postandcourier.com, Aug 12, 2017   The day after two South Carolina power companies decided to bail out on two partially built nuclear reactors, state regulators asked the project’s top executives what it would take to restart construction.

Kevin Marsh, CEO of South Carolina Electric & Gas parent SCANA Corp., answered with a must: The federal government would need to step in to cover the spiraling costs, he said, and guarantee that ratepayers wouldn’t foot the bill for a project with an uncertain price tag.

Nearly two weeks later, support from D.C. doesn’t appear to be forthcoming.

President Donald Trump and Energy Secretary Rick Perry, who have both advocated pro-nuclear positions, haven’t addressed the project’s demise publicly. And one of the two utilities that were building the reactors at the V.C. Summer Nuclear Station near Columbia says it hasn’t heard from the administration since giving it the news.

Santee Cooper, the state-run power utility that owns 45 percent of the project, says it told the White House it was ditching the reactors but hadn’t heard anything since. SCE&G, which owns the other 55 percent, declined to answer questions about its communications with the administration.

The silence from Washington casts further doubt on the prospect of reviving the scuttled project, even as state lawmakers and Gov. Henry McMaster scramble to have at least one reactor completed…..http://www.postandcourier.com/business/trump-administration-silent-on-demise-of-nuclear-project-it-once/article_7bd33fc6-7e9d-11e7-8f2e-7b8e4872296c.html

August 14, 2017 Posted by | business and costs, politics, USA | Leave a comment

Hundreds of workers laid off, thousands of contractors lost jobs: lawsuit against Westinghouse over VC Summer nuclear failure

Pittsburgh Gazette 11th Aug 2017, Following the filing of a lawsuit alleging that Westinghouse Electric Co. violated labor laws by laying off hundreds of workers without proper notice, the bankrupt nuclear company confirmed Friday that it has furloughed 870 employees across the company.

The number represents all full-time Westinghouse employees who had been working on the VC Summer
nuclear power plant in South Carolina and includes 125 workers at
Westinghouse’s Cranberry headquarters. The majority of the furloughs took
place at the site of the VC Summer nuclear power plant construction
project.

The project was canceled last week by two South Carolina utilities. Years behind schedule and billions of dollars over budget, theproject was expected to cost another $8 billion to complete.

In addition to the Westinghouse layoffs, thousands of contractors working on the South Carolina site also lost their jobs.

The lawsuit, filed in bankruptcy court on Thursday by Andrew Fleetwood, a field engineering manager at VC Summer,
claims Westinghouse employees like him were furloughed “without being given any indication that his employment or that of his co-workers would ever recommence.”  http://powersource.post-gazette.com/powersource/companies/2017/08/11/Westinghouse-furloughed-870-employees-in-fallout-from-the-cancelled-South-Carolina-nuclear-project/stories/201708110130

August 14, 2017 Posted by | employment, USA | Leave a comment

America’s nuclear industry getting desperate – seeks money from Trump

The U.S. Nuclear Industry’s Last Hope Seeks Help From Trump, Bloomberg , By Ari Natter and Mark Chediak

August 12, 2017,
  • Cost of delayed Georgia nuclear project may be $25 billion
  • Energy Secretary Perry turned down Scana’s bid for bailout

  • President Donald Trump has vowed to revive America’s dying nuclear industry. Backers of a troubled Georgia nuclear project want him to prove it.

    They have asked the administration to come to the aid of a project to build two reactors to the Southern Co.’s Vogtle power plant, according to people familiar with the talks. That could include increasing or speeding up disbursements of $8.3 billion in federal loan guarantees to the companies behind the nuclear plant, the people said. They asked not to be identified discussing ongoing negotiations.

    A Georgia public service regulator was in Washington to make a case for the project, the last nuclear plant under construction in the U.S., and Southern has hosted congressional staff members at the construction site. The company also wants Congress to extend tax breaks for nuclear power….

    With Southern set to tell regulators in Georgia by the end of this month whether it plans to continue with construction plans for the plant, federal support could be crucial. Last week, Southern said it estimated its portion of the cost to complete the reactors was at least $11.5 billion, excluding $1.7 billion in guaranteed payments from Toshiba. Given Southern’s 46 percent stake in the project, that would put the total cost of building the two reactors at $25 billion……

  • After Energy Secretary Rick Perry turned down a request for $3 billion in aid for Scana Corp.’s nuclear plant in South Carolina, it’s not clear how much the federal government will help. Scana abandoned its V.C. Summer nuclear projects last month after it concluded the two reactors would end up costing it more than $20 billion to build.

    In general, the Trump administration has said it’s studying the nuclear issue…..https://www.bloomberg.com/news/articles/2017-08-11/troubled-georgia-nuclear-project-is-said-to-seek-aid-from-trump

August 12, 2017 Posted by | business and costs, politics, USA | Leave a comment

China’s economic advantage in control of rare earths

Control of rare earths gives China a fresh economic advantage, Las Vegas Sun, By Llewellyn King, Aug. 10, 2017 “……China controls the world’s production and distribution of rare earths. It produces more than 92 percent of them and holds the world in its hand when it comes to the future of almost anything in high technology.

Rare earths are great multipliers and the heaviest are the most valuable. They make the things we take for granted, from the small motors in automobiles to the wind turbines that are revolutionizing the production of electricity. For example, rare earths increase a conventional magnet’s power by at least fivefold. Strategically, they are the new oil.

Rare earths are also at work in smartphones and computers. Fighter jets and smart weapons, like cruise missiles, rely on them. In national defense, there is no substitute and no other supply source available…….

If President Donald Trump — apparently encouraged by his trade adviser Peter Navarro, and his policy adviser Steve Bannon — is contemplating a trade war with China, rare earths are China’s most potent weapon.

A trade war moves the rare-earths threat from existential to immediate.

In a strange regulatory twist the United States — and most of the world — won’t be able to open rare-earths mines without legislation and an international treaty modification. Rare earths are often found in conjunction with thorium, a mildly radioactive metal and a large regulatory problem.

The Nuclear Regulatory Commission and the International Atomic Energy Agency have defined thorium as a nuclear “source material” that requires special disposition. Until these classifications, thorium was disposed of along with other mine tailings. Now it has to be separated and collected. ….

Meanwhile, future disruptions from China won’t necessarily be in the markets; they could be in the obscure but vital commodities known as rare earths: China’s not-quite-secret weapon. https://lasvegassun.com/news/2017/aug/10/control-of-rare-earths-gives-china-a-fresh-economi/

August 12, 2017 Posted by | business and costs, China, politics international, RARE EARTHS | Leave a comment

China losing confidence in nuclear power

Nuclear Engineering International 10th Aug 2017, One of the conclusions of my most recent article on China was that many ofthe negative factors which have affected nuclear programmes elsewhere in
the world are now also crucial there.

The last year has confirmed that this was a reasonable judgement. Despite five new reactors starting up in 2016,
to bring the number in operation to 36, with combined generating capacity
of 32.6GWe, it is clear that the programme has continued to slow sharply.

The most obvious sign is the lack of approvals for new construction.
Although there are 21 units under construction, representing 23.1GWe, there
have now been no new approvals for 18 months. Other signs of trouble are
the uncertainties about the type of reactor to be utilised in the future,
the position of the power market in China, the structure of the industry
with its large state owned enterprises (SOEs), the degree of support from
top state planners and public opposition to nuclear plans.

There are a few possible explanations for the slowdown in approvals. Delays in imported
Generation III reactor designs (the Westinghouse AP1000 and Areva EPR) have
no doubt concerned regulators. Problems with the AP1000 projects at Sanmen
and Haiyang are more serious, as this reactor was destined for most of
China’s future reactor sites. Now hot testing is complete the first
Sanmen unit may go into operation before the end of 2017, but this will not
bring forward a flood of new approvals.

The Chinese have suffered a severe dent in their confidence about the AP1000, not helped by Westinghouse’s
bankruptcy. The authorities will want to see clear evidence of successful
operation before authorising more units. If they do, the first will be at
the existing two sites, but there are several others that have been ready
to go for several years now. http://www.neimagazine.com/opinion/opinionnuclear-in-china-why-the-slowdown-5896525/

August 11, 2017 Posted by | business and costs, China, politics | Leave a comment

Poor future for many decades for New Generation Nuclear Reactors

New Generation Nuclear Reactors Unlikely to Deliver on Design, EcoWatch, By Paul Brown, 9 Aug 17

New generation nuclear reactors, promised for the last 18 years by the U.S. Office of Nuclear Energy (NE) as a way to provide cheap and plentiful supplies of electricity, are unlikely to be fulfilled any time in the next 30 years.

That is the conclusion of university researchers who have used the Freedom of Information Act to obtain the program’s budget history to find out what designs the government has spent $2 billion of public money on supporting.

Researchers from the University of California San Diego and Carnegie Mellon University described the research program as “incoherent” and said the government was “unlikely” to deliver on its mission to develop and demonstrate an advanced nuclear reactor by mid-century.

The study, published in the journal Environmental Research Letters, said much of the money that was supposed to be spent on civilian reactors was spent instead on supporting infrastructure, where the main focus was defense programs and not commercial opportunities……..

Overall, the technology’s prospects appear grim, with implications that go beyond energy.

“Without a sense of urgency among NE and its political leaders,” Abdulla warned, “the likelihood of advanced reactors playing a substantial role in the transition to a low-carbon U.S. energy portfolio is exceedingly low…..

These reported failings in the U.S. research program come at a difficult time for the industry when across the world the current “new” generation of large nuclear reactors is proving difficult to build on time and on budget, and some projects are being abandoned mid-way through construction…….

Most of the money now being spent on research into new generations of nuclear power stations is being provided by nuclear weapon states. Most countries that have never had nuclear weapons but have invested in nuclear power stations are now phasing them out and putting their development money into cheaper renewables. https://www.ecowatch.com/new-generation-nuclear-2471347067.html

August 11, 2017 Posted by | business and costs, technology, USA | Leave a comment

Workers’ health at risk at Idaho nuclear lab

Unheeded warnings, repeated mistakes put workers’ health at risk at Idaho nuclear lab, Idaho Statesman, BY PATRICK MALONE AND PETER CARY, The Center for Public Integrity AUGUST 10, 2017 

August 11, 2017 Posted by | employment, incidents, USA | Leave a comment

South Korea: nuclear phaseout much cheaper than nuclear maintenance

By Kim Sung-hwan, staff reporter New report finds that nuclear power phaseout could save nearly $17 billion in maintenance costs

The cost of managing the “spent nuclear fuel” irradiated in nuclear plants has steadily increased and now exceeds 64 trillion won (US$57.2 billion), a new report confirms. If the government implements its policy of a nuclear phaseout, it could reduce this maintenance cost by as much as 19 trillion won (US$16.9 billion), according to the report.

A report on the current maintenance cost for spent nuclear fuel that Minjoo Party lawmaker Lee Hun, a member of the National Assembly’s Industry, Trade, Resources and SME Committee, received from the Ministry of Trade, Industry and Energy on July 25 states that as of 2016 the cost needed to maintain the spent nuclear fuel for 36 nuclear reactors (including one that is permanently shuttered, 24 that are operational, five that are under construction and six whose construction is planned) is 64.13 trillion won. “The Radioactive Waste Maintenance Cost Calculation Committee, which determines the cost of spent nuclear fuel, calculated that the project cost as of 2016 was 64.13 trillion won, but the government has been publishing the project cost calculated in 2015 [of 53.28 trillion won],” Lee said.

“Since we were unable to submit a motion for approval of the project cost to the cost management review board at the Ministry of Strategy and Finance, we included the previous year’s project cost in the basic plan for managing high-level radioactive waste, which was released in July of that year,” the Ministry of Trade, Industry and Energy said in regard to why it had published an outdated project cost. The project cost for maintaining spent nuclear fuel has been steadily increasing as more nuclear reactors have been built, rising from 22.62 trillion won (with 28 reactors) between 2004 and 2012 to 53.28 trillion won (with 34 reactors) from 2013 to 2015.

The project cost has been increasing because of the need to keep building interim storage facilities inside the nuclear reactors to store spent nuclear fuel and the need to set aside a reserve fund for permanently disposing this waste (and no decision has been reached about where or how this waste will be disposed). “The project cost has increased because the cost of regional support, including storage fees, and the contingency preparation cost, including the cost of insurance, had not been explicitly included. We need to calculate the figures more specifically by launching another public debate about spent nuclear fuel,” the Ministry of Trade, Industry and Energy said.

But implementing the government’s policy of a nuclear phaseout could shave around 19 trillion won off the spent nuclear fuel project cost, the report says. While 64.13 trillion won is required for 36 reactors (including Shin-Kori reactors 5 and 6, on which construction is currently suspended, and the reactors whose construction is planned), the cost for 28 reactors (including Shin-Kori 4 and Shin-Hanul 1 and 2, which have been completely built) would be 44.89 trillion won. The total cost of decommissioning nuclear reactors could be reduced by as much as 5.15 trillion won under the policy of the nuclear phaseout, the report found. The cost of decommissioning a single reactor was 59.5 billion won when it was first calculated in 1983, but by 2015, this had increased to 643.7 billion won.

“The government is deceiving the public when it publishes a lower project cost. Considering that the post-processing costs for nuclear reactors are increasing astronomically and that safety concerns continue to be raised about the unprecedented concentration of nuclear reactors, this is a situation that calls for serious deliberation and a reasonable social consensus about phasing out nuclear power,” Lee said.

August 11, 2017 Posted by | business and costs, South Korea, wastes | Leave a comment