Talen pulls plug on nuclear plant

[kristopher]

Talen pulls plug on nuclear plant

Anthony Salamone


ALLENTOWN – Talen Energy Corp. has taken its final step to cancel a second nuclear power plant in Luzerne County that was first proposed nearly a decade ago.

The Allentown company said Wednesday it sent a written request to the U.S. Nuclear Regulatory Commission saying it sees no "viable path" to obtaining and operating license for its proposed Bell Bend nuclear power plant.

...

Talen Energy, which in early August reported a net loss of $3 million for the second quarter, said its shortfall included an impairment charge of $122 million related to the Bell Bend project. Company officials said then they had no plans to resume licensing and permitting activities for the project, according to Martin.

http://www.mcall.com/business/mc-talen-energy-withdraws-nuclear-plant-application-20160831-story.html


And my vote for the most outrageous corporate claim of the day comes from the same article:

Martin estimated Talen Energy had spent more than $200 million on the project. He said the costs were not borne by utility ratepayers.

He said the costs were not borne by utility ratepayers.

He said the costs were not borne by utility ratepayers.

SMH

[FBaggins]

1. Hardly a surprise since the EPR design certification was pulled a year and a half ago

SMH

Did they have a PUC approve higher rates that consumers had to pay? Nope - they took a loss that is paid by shareholders. Most of PA (unless the municipality is the power company) gives consumers the ability to shop the generation of their electricity... so there wouldn't be room to jack up rates to pre-fund construction - it would just cost them customers.

So shaking your head accomplishes nothing more than making yourself dizzy.

[kristopher]

2. What other source of funds do they have besides ratepayers?

[FBaggins]

3. Their shareholders of course

aka - their profits. Which is what happened in this case.